What is the most recent ruble valuation as you are conducting this search?

Published by Jeannie R. Ferrell

Dec 8, 2022


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1. Economist’s Big Mac Index
Go to the website that contains the most recent calculations of the Economist’s Big Mac Index, https://www.economist.com/big-mac-index, Click on country names, you can see information on the local price of Big Mac, the implied exchange rate, and the difference between implied and actual exchange rate.
a. Choose US dollar as the base currency and index of Jun 2022, and calculate the Real Exchange Rate of U.S. dollars relative to the following currencies in terms of Big Mac: Swiss Franc, British Pound, Euro, Chinese Yuan, Japanese Yen, and South African Rand. Please show the calculation detail as follows:
Real Exchange Rate of U.S. Dollar relative to Swiss Franc = nominal exchange rate * ( U.S. price per Big Mac / Swiss price per Big Mac) = 0.97Franc / dollar * ($5.15 per Big Mac / SFr 6.50 per Big Mac) = 0.77 Swiss Big Mac / U.S. Big Mac
RER of 0.77 indicates that the dollar amount spent in purchasing one Big Mac in the U.S. can only purchase 77% of a Big Mac in Switzerland.
RER of less than 1 indicates that the US dollar is undervalued relative to the Swiss Franc (or the Swiss Franc is overvalued relative to the US dollar), and it is cheaper to buy Big Mac in the U.S. than in Switzerland.
b. Which country’s currency is the most overvalued relative to the US dollar in terms of Big Mac? Is it expensive or cheap to buy Big Mac there?
c. Which country’s currency is the most undervalued relative to the US dollar in terms of Big Mac? Is it expensive or cheap to buy Big Mac there?
d. What did you learn from this exercise?
2. Russian Ruble Crisis
Read the news https://www.cnbc.com/2022/02/28/russia-central-bank-hikes-interest-rates-to-20percent-from-9point5percent-to-bolster-ruble.html, and share your thoughts on the following questions:
a. Why did Russia’s central bank increase the country’s key interest rate? According to what we learned about the factors that affect the exchange rate in the short run, how would an increase in Russia’s interest rate shift the demand curve for Russian assets? How would the shift of the demand curve affect the valuation of the Ruble?
b. What were some other actions that the Russian Central Bank took to contain the market fallout?
c. Search online for a Ruble to USD valuation chart since the start of the war on Feb 24th, 2022? When and what was the lowest valuation of Ruble against USD according to the chart? What is the most recent Ruble valuation as you are conducting this search? What are the possible factors behind the Ruble’s rebound?
d. Research online about the dollar index. If the dollar index equals 95, what does it mean?
e. Search online for a dollar index chart since the start of the war on Feb 24th, 2022. Did the dollar appreciate or depreciate in value since the war started? Explain why?
3. Week 12 Reflection
Based upon what you learned in Week 12 study, share with your classmates something that you found to be an “ah-ha” learning moment and how it applies to your current or past experiences.


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