Comparing Cheap Dates Around the World. Comparison of prices or costs across different country and currency environments requires translation of the local currency into a single common currency. This is most meaningful when the comparison is for the identical or near-identical product or service across countries. Deutsche Bank has recently started publishing a comparison of cheap datesan evening on the town for two to eat at McDonald's, see a movie, and drink a beer. Once all costs are converted to a common currency, the U.S. dollar in this case, the cost of the date can be compared across cities relative to the base case of a cheap date in USD in New York City. After completing the table answer the following questions. a. Which city in the table is truly the cheapest date? b. Which city in the table is the most expensive-cheap date? c. If the exchange rate in Moscow on the Russian ruble (RUB) was USD 0.0459/RUB, instead of USD 0.0283/RUB, what would be the USD price? d. If the exchange rate in Shanghai was CNY 6.79/USD, what would be its cost in USD and relative to a cheap date in New York City? k: Lab 01 Question 2, Problem 1-9 (algorithmic) HW Score: 10%, 1 of 10 points 0 Sa - X Data table most meaningful when th hald's, see a movie, and ompleting the table Dates Arour e e identical or = are converte questions. table is truly table is the m ate in Moscou ate in Shangh Germany table is truly Hong Kong eapest cheap IDR 314,700 Cheap Date in Exchange Exchange Rate Cheap Date in Relative Country City Local Currency Rate Quote 7 April 2014 In USD to NYC Australia Sydney AUD 111.96 USD = 1 AUD 0.9290 104.01 112% Brazil Rio de Janeiro BRL 135.43 USD = 1 BRL 0.4363 Canada HOLAR Ottawa CAD 78.33 USD = 1 CAD 0.9106 China Shanghai nen non CNY 373.87 USD = 1 CNY 0.1619 France Paris EUR 75.57 HS-I U 127 USD = 1 EUR 1.3702 Berlin CUP 20 USD - 4 CUD EUR 76.49 USD = 1 EUR 1970 1.3702 Hong Kong HKD 7 02 4200 USD = 1 HKD HKD 467.03 0.1289 India India IND Mumbai INR 1,379.64 USD = INR USD = 1 INR 0.0167 0467 Indonesia Jakarta USD = 1 IDR = 0.0001 Japan Tokyo JPY 10,269.07 USD = 1 JPY 0.0097 Malaysia MYR 117.85 MYR 1.00 USD = 1 MYR DIMIR 0.3048 Mexico Mexico City MXN 420.30 MXN 423.93 USD = 1 MXN 0.0769 Auckland NZD 111.02 NZD 111.52 USING USD = 1 NZD 0.8595 0.0096 Phillipines Manila PHP 1,182.88 USD = 1 PHP 0.0222 . 102 "" Russia Russia RUB 2,451.24 02.101. USD = 1 RUB 0.0283 400 Singapore Singapore SGD 77.89 USD = 1 SGD 0.7939 South Africa Cape Town ZAR 388.58 USD = 1 ZAR = 0.0946 United Kingdom London GBP 73.29 USD = 1 GBP 1.6566 United States New York City USD 93. 20 1 USD 1.0000 93.20 100% United States San Francisco USD 88.72 1 USD 1.0000 Source: Data drawn from The Random Walk, Mapping the World's Prices 2014, Deutsche Bank Research, 09 May 2014, Figures 30 and 32, with author calculations. 'Relative to NYC' is calculated as = Cheap Date in USD/93.20. eapest cheap eapest cheap eapest cheap Kuala Lumpur New Zealand table is them Moscow xpensive-ches pensive-ches pensive-ches pensive-che ate in Moscow Moscow is US Print Done e this View an example Get more help Clear all at Check an
