Some people read tea leaves to predict the future. We prefer hamburgers! The Economist began to calculate Big Mac index in 1986. They use it as a light-hearted guide to whether currencies are at their “correct” exchange rate. It is not intended as a precise predictor of exchange rates, but a tool to make economic theory more digestible. The following is the Big Mac Index in Apr. 25th 2002.
人民幣匯率被低估。
最便宜的漢堡包在阿根廷,最貴的漢堡包在土耳其,這說明前者的匯率被高估,后者的匯率被低估。