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Know the value of your country's currency for a big mac sandwich

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Know the value of your country's currency for a big mac sandwich Empty Know the value of your country's currency for a big mac sandwich

Post by claud39 on Fri Aug 16, 2019 3:17 pm

Know the value of your country's currency for a big mac sandwich




15 August 2019 10:35 AM





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Dubai - Mubasher: The Economist's Big Mac index measures the purchasing power of their currencies and their real value against the US dollar.

According to the latest index data for July 2019, the currencies of the Gulf countries and Egypt are undervalued against the US dollar by rates ranging from 56 percent to 30 percent.

The “purchasing power parity” theory defines the relationship between relative price levels between different countries, on the basis that exchange rates are determined by the value of goods that can be bought by currencies. Between two currencies is the price that equals the purchasing power of each.

According to the Big Mac index, the UAE dirham is undervalued against the US dollar by about 30 percent (compared to 32 percent in the January index of this year).

Egypt

In Egypt, the pound is considered undervalued against the US dollar by about 56 percent (compared to 60 percent in the January index this year).

The price of the sandwich in Egypt is 42 pounds for 5.74 dollars in the United States, which means that the exchange rate is supposed to be 7.32 pounds to the dollar against the real exchange rate 16.61 pounds. 







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Sultanate of Oman 

In Oman, the Omani rial is undervalued against the US dollar by about 45 percent (compared to 51 percent in January this year).



The price of the sandwich in Oman to 1.21 riyals against 5.74 dollars in the United States, which means that the exchange rate is assumed to be 0.21 riyals to the dollar against the real exchange rate of 0.39 riyals.







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Saudi

In Saudi Arabia, the Saudi riyal is undervalued against the US dollar by about 40 percent (compared to 43 percent in the January index this year).



The price of the sandwich in the Kingdom to 13 riyals against 5.74 dollars in the United States, which means that the exchange rate is assumed to be 2.26 riyals to the dollar against a real exchange rate of 3.75 riyals. 




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Emirates

In the UAE, the dirham is considered undervalued against the US dollar by about 30 percent (compared to 32 percent in the January index of this year).



The price of the sandwich in the UAE is 14.75 dirhams for 5.75 dollars in the United States, which means that the exchange rate is supposed to be 2.57 dirhams to the dollar against the real exchange rate of 3.67 dirhams.




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Kuwait 

In Kuwait, the Kuwaiti dinar is considered undervalued against the US dollar by about 37 percent (compared to 38 percent in the January index this year).



The price of the sandwich in Kuwait is 1.10 dinars compared to 5.74 dollars in the United States, which means that the exchange rate is supposed to be 0.19 dinars to the dollar against a real exchange rate of 0.30 dinars.




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Bahrain 

In Bahrain, the dinar is undervalued against the US dollar by about 35 percent (compared to 43 percent in the January index this year).

The price of the sandwich in Bahrain is 1.40 dinars against 5.74 dollars in the United States, which means that the exchange rate is supposed to be 0.24 dinars to the dollar against a real exchange rate of 0.38 dinars.




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Diameter

In Qatar, the Qatari riyal is considered undervalued against the US dollar by about 38 percent (compared to 41 percent in the January index of this year).



The price of the sandwich in Qatar is 13 riyals versus $ 5.74 in the United States, which means that the exchange rate is supposed to be 2.26 riyals to the dollar against the real exchange rate of 3.64 riyals.




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The index was created in 1986 by the editorial team of The Economist, a special and innovative economic index, the Big Mac, to be used to measure the performance and strength of currencies, rising and falling, for every currency in the world, based on the theory of "power parity". Purchasing. "



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claud39
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