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Cool tool! It would be great if you showed the PP-adjusted value converted to USD (Using current exchange rates). It might make it easier for me to understand t
by mwambua 5y ago
Cool tool! It would be great if you showed the PP-adjusted value converted to USD (Using current exchange rates). It might make it easier for me to understand the values for countries I haven't lived in.
For example, $1 USD allows me to buy the same things that $1.21 CAD would in Canada... but $1 USD is approximately $1.27 (https://www.xe.com/currencyconverter/convert/?Amount=1&From=USD&To=CAD https://www.xe.com/currencyconverter/convert/?Amount=1&From=...)... meaning costs are pretty similar in the two countries.
- Abishek_Muthian 5y agoThank you. You're correct the PPP rates doesn't reflect the exchange rates, It's based on market basket of common goods. According to the Wiki[1], >> Ideally, a computer in New York and in Hong Kong should have the same price. If its price is 500 US dollars in New York and the same computer costs 2000 HK dollars in Hong Kong, PPP theory says the exchange rate should be 4 HK dollars for every 1 US dollar. [1] https://en.wikipedia.org/wiki/Purchasing_power_parity#Conversion https://en.wikipedia.org/wiki/Purchasing_power_parity#Conver...