Apprentice

IPod Replaces The Big Mac To Measure Currency Strength

By: Andres Colmenares - Published: • References: comsec.au and www2.noticiasdot
An Australian bank will use the iPod as the standard t ocompare different currencies, trying to replace the famous Big Mac index established in 1986 by The Economist.

Commonwealth Securities has announced that they will use the cost of a 2 GB iPod Nano to assess currency movements.

"Of 26 countries surveyed, Australia is the eighth cheapest place to buy a 2 gigabyte (gb) iPod nano in US dollar terms. The most expensive country is Brazil (US$327.71), the cheapest is Canada (US$144.20), while in Australia the local purchase price of $219 in Australia converts to US$172.36."