The compilers of the Big Mac Index valued the dollar at 22 rubles

The Russian currency is undervalued by more than 60 percent, according to the compilers of the Big Mac Index, which is published annually by The Economist magazine.

In the United States, a Big Mac burger costs $4.79 as of July 2015, and in Russia it costs 107 rubles, which is $1.88 at the exchange rate of the Central Bank of the Russian Federation as of July 17. Thus, the exchange rate of 22.34 rubles per dollar would be fair.

The compilers of the index consider the Venezuelan bolivar to be the most undervalued currency - "Big Mac" in this country, when converted at the official rate, costs 0.67 dollars.

The most undervalued currencies include, according to the compilers of the rating, the Ukrainian hryvnia. The dollar exchange rate according to the "Big Mac index" should be 7 hryvnia, not 22.

The compilers of the rating once again recognized the Swiss franc and the Norwegian krone as the most overvalued currencies.

• The main idea of ​​the Big Mac Index is that the same products in different countries of the world should cost about the same. If the price differs significantly, then, the compilers of the index conclude, the exchange rate of the national currency of this country against the dollar is overestimated or underestimated.
• The Big Mac Index has been calculated since 1986. Over the past several years, the compilers of the index estimated the fair value of the dollar for the Russian Federation at 18-19 rubles. So, in January 2015, the index was considered fair, the dollar exchange rate against the Russian currency was 18.58 rubles.