Ukrainian hryvnia is placed on the fifth place from the end in the top list of the most unrated currencies according to the Big Mac index, The Economist informs.
According to the research, the cost of Big Mac in Ukraine equaled to 57 hryvnias (2.22 dollars), when in the USA it is equaled to 5.74 dollars. As a result, Ukrainian hryvnia is unrated on 61.3%, comparing to the official currency rate exchange equals 25.65 hryvnias/dollar, but relating to purchasing power the rate exchange should be equaled to 9.93 hryvnias/dollar.
Russia, Malaysia, South Africa and Romania are also in the top five of the most unrated currencies in 2019. Swiss france is considered the one currency which was overvalued. In Switzerland, Big Mac costs 14% more expensive than it is in the USA.
It stands to mention that the Big Mac index was invented by the Economist in 1986 as the unofficial method to calculate the purchasing-power parity. Due to the fact that McDonald’s is represented in most countries and the burger consists of enough amount of food components, the experts use it as the research sample.
As we reported, in 2018 Ukraine took the first place in the top list of the most unrated currencies according to the Big Mac index. It was unrated on 69%. At the start of 2019 Ukraine took the second place, having been unrated on 65.2%.