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Taking into account Switzerland's economic output, the franc is actually only 27% overvalued. The real is 68% overvalued, according to the "adjusted" Big Mac index. Under that measure, Brazil has the most overvalued currency. The Economist says measuring the relationship between Big Mac prices and economic output per person "may be a better guide to the current fair value of a currency." One criticism is that Big Macs are typically cheaper in poorer countries, where labor costs are lower. The Economist acknowledges that "burgernomics" is not a precise gauge of "currency misalignment." Neighboring Ukraine is the only other place with a currency that's more undervalued - where a Big Mac costs only $1.20. Related: Deflation 'Death Star' firing lasers at economy Russia's currency has plunged to record lows in recent months as falling oil prices combined with economic sanctions have pushed the nation to the brink of recession. On average, a Big Mac in Russia will set you back $1.36, or 89 rubles. On the other end of the spectrum, Big Macs are a bargain in Russia. Just last week, the Swiss franc soared against major currencies after the Swiss National Bank decided t o stop capping its value against the euro, a policy that had been in place since 2011 euro crisis.
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