TABLE 3 | MEASURES OF PURCHASING POWER PARITY | |||||
Big Mac Prices | ||||||
In Local Currency | In Dollars | Implied PPP of the Dollar | Actual Dollar Exchange Rate (January 2016) | Under (−)/Over (+) against the Dollar (%) | ||
United States | US$ 4.93 | 4.93 | 1.00 | — | — | |
Argentina | Peso 33.0 | 2.39 | 6.69 | 13.81 | −52 | |
Britain | Pound 2.89 | 4.22 | 0.59 | 0.68 | −14 | |
Canada | CAD$ 5.84 | 4.14 | 1.18 | 1.41 | −16 | |
China | Yuan 17.6 | 2.68 | 3.57 | 6.56 | −46 | |
India | Rupee 127 | 1.90 | 25.76 | 66.80 | −61 | |
Japan | Yen 370 | 3.12 | 75.05 | 118.65 | −37 | |
Mexico | Peso 49 | 2.81 | 9.94 | 17.44 | −43 | |
Norway | Krone 46.8 | 5.21 | 9.49 | 8.97 | +6 | |
Switzerland | CHF 6.5 | 6.44 | 1.32 | 1.01 | +31 | |
Taiwan | NT$ 69 | 2.08 | 14.00 | 33.23 | −58 | |
Thailand | Bhat 112 | 3.09 | 22.72 | 36.22 | −37 | |
Venezuela | Bolivar 132 | 0.66 | 26.77 | 198.70 | −87 |