The Ukrainian hryvnia is now in eighth place among the world’s most undervalued currencies.
This is evidenced by the Big Mac Index, which is maintained by The Economist.
A Big Mac hamburger sold at McDonald’s in Ukraine costs 118 hryvnias, while in the United States it costs $5.69.
According to the Big Mac Index, the estimated exchange rate is 20.74 hryvnia to 1 US dollar.
“The difference between this and the actual exchange rate of 41.05 suggests a 49.5% undervaluation of the Ukrainian hryvnia,” The Economist summarized.
Other most undervalued currencies in the world include the Taiwanese dollar, Indonesian rupiah, Egyptian pound, Indian rupee, South African rand, Philippine peso, Hong Kong dollar, and Vietnamese dong.
Overvalued currencies are the Swiss franc, Uruguayan peso, Norwegian krone, Argentine peso, euro, and British pound.
