Contributed by Pranshuman! Life saver!
The X Index is a guide published by The Economist magazine to compare the currencies of different countries.It does so by looking at the price of a X, which is available in more than 100 countries. Thus, a X in the U.S. costs $4.07 whereas in China it costs $2.27, using nominal exchange rates. After 25 years, India has finally made it to the X Index. X index is a simplistic way to demonstrate purchasing power parity, a theory that says that the exchange rate between two countries should move toward “correct value,” which would make the price of a basket of products the same in both countries.
Interestingly, X is not available in India, probably because it may 'hurt' some people. Instead, it is replaced here by Y.
ID X and Y.
For the number cruncher types, here are a few graphs.
Big Mac...Something like comparing the price of mcdonald's big mac burger in different countries....gr88 question I must say....
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ReplyDeletebig mac index way of price comparison...
ReplyDeletein india its replaced by mac maharaja, and in mesra by the hnc burger, becoz of the beef content in the original version....
x-big mac index
ReplyDeletey-maharaja mac
X= Big Mac
ReplyDeleteY= Chicken Maharaja Mac
Big Mac Index
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ReplyDelete