The Ukrainian hryvnia has retained eighth place since the end of the list of undervalued currencies in the world to the updated Big Mac Index .
RBC-Ukraine reports this according to The Economist rating for the year 2024.
According to data, Big Mac costs 118 hryvnia in Ukraine, the same as in the USA – 5.69 dollars. Thus, the rate of the Ukrainian currency is undervalued by 49.5% with the actual exchange rate of 41.05 UAH/Dollar, and the purchasing power rate is at the level of 20.74 UAH/Dollar.
The world's most undervalued currencies in 2024 will cost a penny to Taiwan, Indonesia, Egypt, India, PAR, Philippines and Malaysia. This list has not changed since 2024.
The overvalued currencies are the Swiss franc (by 41.8%), the Uruguayan peso (by 24.3%), the Norwegian krone (by 18.9%), the Argentinean peso (by 15.0%), euro (by 6.5%), British pound (by 3.6%).
Big Mac Index
Big Mac index buoyed by The Economist in 1986 . The methodology for developing the index is based on the theory of purchasing power parity (PPP), for which the exchange rate can be compared to the price of a cat of goods (for a given type of burger) in different countries.
U Lipna 2022 The Economist was unable to estimate the hryvnia exchange rate until dollar in the Big Mac Index, fragments of Merezha McDonald's immediately closed its Swedish food restaurants after the Russian invasion. After this, McDonald's restaurants began to open in Ukraine.
The Russian ruble, as before, is present in the index, the fragments of McDonald's trade in the territory of the Russian Federation.