Now Bigmak in Ukraine costs UAH 101, Bigmak in the USA – $5.15.
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After the resumption of McDonald's restaurants in Ukraine, for the first time since the beginning of the war there was an opportunity to calculate the “Bigmak index”, and therefore, to determine how much the hryvnia is really worth today . This was reported by People's Deputy Yaroslav Zheleznyak.
So, now Bigmak in Ukraine costs UAH 101. At the time of calculation of the July index, Bigmak in the USA cost $5.15. The ratio is 1:19.6.
That is, according to Bigmak prices, the official exchange rate should be UAH 19.6/dollar. The official exchange rate of the NBU now: $1 = UAH 36.6/dollar< span. Therefore, the hryvnia is undervalued by 46.4%. And it is between the national currencies of Turkey and thePhilippines. p>
In general, among all analyzed countries, the top 5 most undervalued national currencies included the currencies of Romania (Bigmak is 55.7% cheaper), Indonesia (-54.6%), South Africa (-54.5%), India (-53 .6%) and Egypt (-52.9%).
The most overvalued currencies were the Swiss franc (+30.3%), the Norwegian krone (+21.6%), the Uruguayan peso peso (+18.1%), Swedish krona (+8.5%) and Canadian dollar (+2%).
Read also: The first three McDonald's restaurants are opening tomorrow in Kyiv: addresses of establishments
We remind you that the “index < /span>Bigmaku” has been calculated by The Economist since 1986. Accordingto the theorypurchasing power parity, with an adequate exchange rate, the same product will cost the same in different countries. In this way, it is possible to analyze how “correct” the exchange rates of national currencies are relative to the dollar.
The hryvnia-to-dollar exchange rate was absent from the July Big Mac index, as McDonald's temporarily closed its fast-food restaurants following the Russian invasion.
The last Big Mac index for Ukraine was published in February. The study showed that the Ukrainian hryvnia is one of the most undervalued currencies in the world. And the real exchange rate of the hryvnia to the dollar should have been 12 hryvnia.
Related video
The most real exchange rate hryvnia in Ukraine was in 2008 – the hryvnia was undervalued by 33%. The officialrate was 4.6, and the index was 3.08. “Big Mac” cost 11 hryvnias.
