While the rand is currently trading at a surprisingly resilient level of R17.70 against the dollar, its real value is closer ...

Learn the factors that determine a currency's value, from economic theories like PPP and interest rate parity to ...

E ACH YEAR a typical American worker can afford more than six times as many Big Macs at home as a worker in Mexico can. That ...

Purchasing-power parity suggests that, with a Taiwanese Big Mac costing 78 Taiwanese dollars and an American one $6.01, the currencies’ exchange rate should be the ratio of the two prices.

"A Big Mac, which is fairly standardized around the world, should cost the same everywhere if exchange rates are in balance," Haley said.