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If you like to stay on top of business and economic news, chances are you’re familiar with the Economist’s Big Mac Index: what in its own words is “a fun guide to whether currencies are at their “correct” level.” Simply put, if a Big Mac costs 44% less in China than it does in the U.S., this suggests that the yuan is 44% undervalued against the dollar. Likewise, if a Big Mac is 23% more expensive in Canada than in the U.S., that shows the Canadian dollar is 23% overvalued. The infogrpahic below illustrates the latest Big Mac Index update, released on July 28, 2011.

(Click on the infographic below to learn more.)

Via Column Five for Credit Sesame

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