The Azerbaijani manat is 58.9 percent undervalued against the US dollar, the Big Mac index of The Economist said, Trend reports.
The index said that a Big Mac costs 3.95 manat in Azerbaijan and $5.66 in the United States.
“The implied exchange rate is 0.70. The difference between this and the actual exchange rate, 1.70, suggests the Azerbaijani manat is 58.9 percent undervalued,” the report said.
Thus, Azerbaijan was placed sixth among the analyzed countries and is followed by countries such as UAE (29.1 percent), Denmark (13.4 percent), Canada (6.6 percent), and others.
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