Want A Big Mac? Stay Away From Venezuela

The Economist has come out with the January 2013 Big Mac Index. Leading the way is Venezuela, whose currency is overvalued by more than 100 percent according to the the index. The map with the currency valuations relative to the U.S. dollar is interesting since many of the undervalued currencies are in Asia and Eastern Europe. The average price of a Big Mac in the U.S. was $4.37, while it was only $2.57 in China. Both the Indian rupee and South African rand were undervalued by more than 50 percent.