- Big Mac Index Tests Swiss Franc, Indian Rupee In pricey Switzerland, a McDonald’s Big Mac costs $6.81 on average. The same sandwich sells for only $4.20 on average in the United States.
- According to the Big Mac Index, the US Dollar should be worth around Rs.26 or so or say Rs.30/- if we go by what is the considered view of the author Sree Iyer, on his article titled Why the Rupee exchange rate should be 30 to a dollar. As against this, the official exchange rate is around Rs.67/. In other words, the rupee is undervalued.
- Now, Big Mac costs $1.91 in Russia. While the price of the burger in the United States is $5.71, the Russian currency exchange rate is 23.64 ruble per dollar in terms of the Big Mac Index. However, the ruble is much cheaper in Forex – about 70.59 ruble per US dollar (as of July 2020).
- I went through your drive-thru last night (Store #15038) and was very surprised when my bill came to $7.36 for just a Big Mac, medium fries, and 2 pies. I was charged 1.89 for the medium fries and your menu on this website for 2014 says price is 1.59.
One of the most delectable, satisfying and popular hamburgers sold by international fast food chain company McDonald’s, Big Mac is a signature product offered by the firm in various countries including the United States, Philippines, Argentina and Australia. This hamburger is very famous because it contains healthy and delicious ingredients. To offer variations, the company provides special sauces for the burger. To know how much is a Big Mac, let us look at the prices of the burger in different areas.
The Price of the Hamburger
How Much Rupee For Big Macs
How much is a Big Mac? The answer to this question depends on the place where this special hamburger is offered. In the United States, the burger costs $3.22 while in Canada it costs C$3.63. If a consumer purchases the product in Argentina and Chile, it costs 8.25 pesos and 1,670 pesos, respectively. In Australia, a Big Mac is priced at A$3.45 while in Brazil, it is priced at 6.4 real.
The hamburger is also available in Denmark, Egypt and Iceland. The product costs DKr 27.75 in Demark and it is priced at 9.09 pound in Egypt. If the burger is to be purchased in Iceland, it costs 509 kronur. In countries that use euros as the currency, then the price of the burger is 2.94 euro. Big Mac is also offered at McDonald’s stores in Asian countries like South Korea, Singapore, China and Philippines. The product costs 2,900 won in South Korea and S$3.60 in Singapore. In China, the burger is available for 11 yuan while in the Philippines, it is priced at 85 pesos. Big Mac burger costs 6,800 bolivar in Venezuela, 55 pesos in Uruguay, 190 rupee in Sri Lanka, nine riyal in Saudi Arabia as well as 15.5 rand in South Africa.
Additional Information and Other Important Details
The main ingredients of Big Mac are two 45.4 grams beef patties, iceberg lettuce, pickles, onions, American cheese, sesame seed buns and the special Mac sauce. To promote the product in other nations, McDonald’s offers variations of the burger like the Monster Mac, Maharaja Mac, Kosher Mac and Mega Tamago. The Monster Mac has eight 45.4 grams beef patties while the Maharaja Mac is either made from chicken or lamb meat. The Kosher Mac, which does not contain cheese, is available in Israel. Mega Tamago has tomatoes and only one 45.4 grams beef patty. Other variations of the product are the McKinley Mac, Son of Mac and the Mega Mac. Some of these variations are offered in Ireland, Malaysia, Serbia, Thailand and Japan.
Food typically takes 24-72 hours to digest, but the grease and trans fat inside a Big Mac means the digestion time for the McDonald's signature burger can easily go beyond three days. 'If you want to enjoy a Big Mac, try to keep it an occasional event,' is the advice from Fast Food Menu Price.
This is a simple currency converter that uses the Big Mac Index currency data as a base. Invented in 1986 by The Economist, the index monitors the prices of the Big Mac hamburger in various countries around the world and compares them according to the theory of purchasing power parity. This converter uses the official Big Mac Index data to calculate the 'correct' price ratio between a given set of countries, that is the price at which purchasing power parity exists.
Implied Value - this is what the amount in the foreign currency should be, assuming that the countries have purchasing power parity. At this exchange rate a Big Mac costs the same in both countries.
Market Value - this is the converted amount according to the market exchange rates.
If the implied value is higher than the market value, that means the target currency is overvalued against the base currency. From a marketer's point of view that also means that a product theoretically should sell for more in the target country than in the base country.
How Much Rupee For Big Mac 2
If the implied value is lower than the market value, that means the target currency is undervalued against the base currency. From a marketer's point of view that also means that a product theoretically should sell for less in the target country than in the base country.