Azerbaijani manat significantly undervalued against US dollar, study finds
By Trend
The Azerbaijani manat is 58.9 percent undervalued against the US dollar, the Big Mac index of The Economist said, Trend reports.
The index said that a Big Mac costs 3.95 manat in Azerbaijan and $5.66 in the United States.
“The implied exchange rate is 0.70. The difference between this and the actual exchange rate, 1.70, suggests the Azerbaijani manat is 58.9 percent undervalued,” the report said.
Thus, Azerbaijan was placed sixth among the analyzed countries and is followed by countries such as UAE (29.1 percent), Denmark (13.4 percent), Canada (6.6 percent), and others.
--
Follow us on Twitter @AzerNewsAz
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!