RIA: the Russian currency exchange rate should be around 27 rubles per dollar
The ruble has turned out to be one of the most undervalued currencies in the world – its rate should be around 27 rubles per dollar, reports RIA Novosti.
The agency compiled a rating of the world’s largest economies based on the cost of a set consisting of a burger, French fries and a glass of cola. The cheapest set was in Russia, the most expensive in Israel. Based on this information, RIA Novosti calculated the exchange rate based on purchasing power in relation to the US dollar.
According to the calculation, the current ruble exchange rate at purchasing power parity is 3.4 times lower than the exchange rate and is 26.7 rubles per dollar. The same situation was observed in 2023 – then the ruble exchange rate at purchasing power parity was three times lower – 32.07 rubles per dollar.
#ruble #named #undervalued #currencies #world