The other uses the purchasing power parity (PPP) exchange rate—the rate at which the currency of one country would have to be converted into that of another country to buy the same amount of goods and ...

If you wanted to calculate the exchange rate that would be implied by the purchasing power parity theory, you would simply compare the cost of a basket of identical goods between two currencies.

GDP (PPP) means gross domestic product based on purchasing power parity ... of essential goods and services is cheaper inside India, for an Indian consumer, than the same basket would be for ...