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Big Mac index points to undervaluation
- Wednesday, May 14 - 2003 at 09:45
A purchasing parity index using the Big Mac hamburger as its base level has shown that the Egyptian currency is 49 per cent undervalued, and the UAE dirham 10 per cent undervalued. The index was compiled by Jordaninvest ceo Dr Henry Azzam for Gulf News. The Swiss Franc, by contrast, is 50 per cent overvalued.
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Peter J. CooperWednesday, May 14 - 2003 at 09:45 UAE local time (GMT+4)
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