29 July 2011

BRASIL: Big Mac Index Ranks...The Real...Most Overvalued Currency Vs Usd.

                                ECONOMIST


    25 years ago, The Economist magazine created the Big Mac Index.
    In the latest issue, it claims Brasil's real is the most expensive currency in the world...149% above the usd price for a Big Mac.
    A Rio Big Mac costs the equivalent of $6.16...while the USA price is only $4.07.
    Colombia's peso comes in 2nd...108% above the USA price.
    Like others, the magazine claims Argentina is fudging results by not revealing real inflation rates.