a countrys individual purchasing power. 20 21 Fish, lamb and beef are produced in Iceland, while beef is often imported (but also exported). As many countries have different currencies, the standardized Big Mac prices are calculated by converting the average national Big Mac prices with the latest exchange rate.S. Lets say a Big Mac costs.19 in Britain and.51 in the United States if you were to divide the local price in Britain by the US price, youd get a Big Mac index exchange rate.58. The index is regarded as an indicator for the purchasing power of an economy. Real interest rate differentiation: a model which states that a country with a higher real interest rate will see its currency appreciate against other countries with lower interest rates). Archived from the original ( PDF ). In India which is a predominantly Hindu country beef burgers are not available at any McDonald's outlets. The statistic depicts the so-called Big Mac index in 2019.
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More information, statistics on "Key Economic Indicators of China national accounts. Retrieved b Politi, Daniel (24 November 2011). "Argentina's Big Mac Attack". The average price for a Big Mac burger in Switzerland was.62.S. Show more, loading statistic. For example, in January 2004, it showed a Tall Latte index with the Big Mac replaced by a cup of Starbucks coffee. 13 In 2017, the comparison platform Versus did a version called The Chai Latte Global Index, comparing Starbucks Chai Latte prices worldwide, by first converting the local prices into USD. For example, a hamburger costs only 1 in France, and.50 in Belgium, but overall, McDonald's restaurants are cheaper in Belgium. Comparing prices for the iconic burger tells us that the Brazilian real is overvalued by 56 per cent against the pound sterling, while the eurozone is overvalued by 6 per cent against the pound. 6 In 2007, an Australian bank tried a variation the Big Mac index, being an " iPod index since the iPod is manufactured at a single place, the value of iPods should be more consistent globally. Another limitation of the Big Mac Index is the geographical coverage.