NYT/ ECONOMIX BLOG/ With Chart/ The Economist's annual "Big Mac Index" is just out. It is based on the concept that exchange rates should make the price for McDonald's "Big Mac"...the same everywhere. In Argentina, the burger costs about $1.78 USD vs $3.73 in the USA, thus the peso is undervalued by about 50%; in Rio, it costs $4.91, thus the real is overvalued by 31%. In the eurozone, it is priced at $4.33, etc.
