Big Mac Index
The Economist has published it’s famous Big Mac Index.
Those who believe in the law of one price, which states that identical goods should cost the same in every location (assuming no trade barriers, no tax differences and no transportation costs), can check below how their currencies rank. As a reminder, absolute PPP rule is likely to work in the very long run, in 50 to 100 years. So trading rule based on Big Mac Index under/overvaluation may be directionally right, but you may not live long enough to see the gains.