World Currencies
World Currencies
All major currencies ranked by M2 money supply. Currencies with Big Mac data show PPP valuation signals.
| # | Name | Price | Rate Change | Market Cap | Circulating Supply | PPP Gap |
|---|
How It Works
Raw Index (PPP)
1
Implied PPP rate = Local Big Mac price / US Big Mac price. This is the exchange rate that would make a Big Mac cost the same everywhere.
2
Compare to market FX rate. If the implied rate diverges from the spot rate, the currency is mispriced according to PPP theory.
3
Valuation % = (Implied PPP / Market Rate - 1) x 100. Positive = overvalued, negative = undervalued vs USD.
GDP-Adjusted Index
1
Raw PPP has a flaw: cheaper goods in poorer countries don't necessarily mean undervalued currencies — labour and trade costs differ.
2
Regression on GDP per capita predicts what the Big Mac "should" cost given a country's income level.
3
Adjusted valuation % = (Actual price - Predicted price) / Predicted price. Strips out the development effect.
For FX Traders
How to read this data: The Big Mac Index is a long-term mean-reversion signal, not a timing tool. Currencies that are deeply undervalued by PPP tend to appreciate over years, not days. Use it as a directional bias filter — if your technical setup aligns with a deeply undervalued currency, PPP supports the long thesis. The GDP-adjusted column is more reliable for developed-market pairs as it controls for income differences. The implied PPP rate is your theoretical fair-value exchange rate — compare it to the current spot rate to gauge how far the market has diverged from purchasing-power equilibrium.