14.04.2023, 21:16
The ruble exchange rate was estimated with the help of an Easter cake
Source: OREANDA-NEWS
OREANDA-NEWS In Russia, prices for a set of products for making Easter cake were compared with similar ones in countries popular among emigrants. The calculation of the "kulich index", made by analogy with the popular "big mac index", is cited by the publication "The Secret of the firm".
The classic recipe was taken as a basis, the list included ingredients in an amount sufficient to prepare two medium-sized cakes. The Russian "reference" cake at the prices of an online grocery store will cost more than others and will cost 193 rubles. In other countries under consideration, prices were higher by 7-83 percent, which indicates that the ruble is undervalued.
Most of all, you will have to spend 353 rubles (460 Serbian dinars) to prepare similar pastries in Serbia. Also, a cake will cost more than 300 rubles in Bulgaria (312 rubles, or 7 Bulgarian levs) and Georgia (308 rubles, or 10 lari). At the same time, the cheapest festive treat abroad can be prepared in Armenia — for 206 rubles, or 979 Armenian drams. The calculation of the "big mac index" is not an accurate way to measure purchasing power, but it clearly shows the ratio of currencies on the example of the same grocery basket. To calculate it, the price of a burger in one country in the local currency is divided by the price in the reference country in its currency. The result is compared with the official exchange rate, if it is higher, then the currency is undervalued, if lower, on the contrary, it is overvalued.
In February 2022, The Economist magazine came to the conclusion that the ruble is the most undervalued currency in the world based on the "big Mac index". Then in the USA, a burger cost $ 5.81 (about 444 rubles), and in Russia — 135 rubles ($ 1.77), and the fair exchange rate of the Russian currency to the dollar based on the price of this product should have been 70 percent lower.
The classic recipe was taken as a basis, the list included ingredients in an amount sufficient to prepare two medium-sized cakes. The Russian "reference" cake at the prices of an online grocery store will cost more than others and will cost 193 rubles. In other countries under consideration, prices were higher by 7-83 percent, which indicates that the ruble is undervalued.
Most of all, you will have to spend 353 rubles (460 Serbian dinars) to prepare similar pastries in Serbia. Also, a cake will cost more than 300 rubles in Bulgaria (312 rubles, or 7 Bulgarian levs) and Georgia (308 rubles, or 10 lari). At the same time, the cheapest festive treat abroad can be prepared in Armenia — for 206 rubles, or 979 Armenian drams. The calculation of the "big mac index" is not an accurate way to measure purchasing power, but it clearly shows the ratio of currencies on the example of the same grocery basket. To calculate it, the price of a burger in one country in the local currency is divided by the price in the reference country in its currency. The result is compared with the official exchange rate, if it is higher, then the currency is undervalued, if lower, on the contrary, it is overvalued.
In February 2022, The Economist magazine came to the conclusion that the ruble is the most undervalued currency in the world based on the "big Mac index". Then in the USA, a burger cost $ 5.81 (about 444 rubles), and in Russia — 135 rubles ($ 1.77), and the fair exchange rate of the Russian currency to the dollar based on the price of this product should have been 70 percent lower.
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