18:48 31 January 2023
Polish zloty rises in Big Mac report
In terms of currency parity, the Polish zloty is still undervalued against the dollar by 23.6 percent. In spite of this, it has made good progress since last year, according to the latest Big Mac Index report.
The Big Mac Index compiled by "The Economist" experts assesses the value of individual currencies based on the prices of the iconic McDonald's sandwich in different countries. In Poland, a Big Mac costs PLN 17.75, while in the USA it costs $5.36 (PLN 23.23). The chart shows that the rate offered on the market reaches 4.34, meaning that the Polish currency is undervalued by 23.6 percent.
Although the zloty is relatively low in the ranking, its position has been upward for some time. In July last year, its undervaluation stood at 30.3 percent, while at the beginning of 2022, it was at 31.8 percent.
Five currencies are overvalued against the dollar this half-year: the Swiss franc is in the first place (35.4 percent). This is followed by the Uruguayan peso (27.8 percent), the Norwegian krone (22.9 percent), the Swedish krone (4.8 percent), and the Danish krone (0.9 percent).
(Puls Biznesu)
