Photo: Oleg Karsaev / “Kommersant”
The ruble is undervalued against the dollar by 2.5 times, the U.S. dollar exchange rate is almost 26 rubles. This writes the Economist in his study of the “big Mac Index”.
In July 2016, “big Mac” in Russia was worth 2.05 dollar. In the US the price was 5.04 USD. Thus, the us currency should be equal 25,79 of the ruble.
Just below the price of “big Mac” in Ukraine — 1.57 dollar, above all in Switzerland (6.59 USD).
On the Moscow stock exchange on 1 August at 16:10 GMT the dollar is worth 66,21 ruble. It has risen by 16 cents compared with the end of the previous session. The Agency of 73.92 ruble (added 19 cents).
Official rates for August 2 — 65,96 and 73,65 rubles respectively.
“Big Mac index” is calculated since 1986. Calculations are based on the theory of purchasing power parity (PPP) of a currency. Is used for correct comparison of economic performance in different countries. If PPP dollar is equal 25,79 of the ruble, this means that consumers in the U.S. can buy for one dollar the same set of goods as the consumer in Russia 25,79 of the ruble.
