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Kiwi dollar gets super-sized
The light-hearted "Big Mac" index is showing New Zealand’s dollar is massively over-valued against several major currencies. Invented by The Economist in 1986, the Big Mac Index is based on the price of a Big Mac McDonald's burger in each country. While not to be taken too seriously, it does highlight distortions in the currency market. When the price of a Big Mac in Beijing and in Auckland is ranked on the index, it shows the kiwi is over-valued by 81.4 per cent against the Chinese yuan. China controls the value of the yuan internationally. Against the Japanese yen, the kiwi is over-valued by 35.7 per cent. And ... (full story)