Go to the IMFs web site at www.imf.org, (see below), locate World Economic Outlook (WEO) database, find the Data and Statistics tab, and download and compute the Implied PPP conversion rate for the following;

Calculate a Chinese Yuan per US dollar and European Euro per US dollar Purchasing Power Parity (PPP) rate of 2021 and compare it to the actual exchange rate that can be found from Yahoo Finance of December 31, 2021 (or closest date). Which currency is overvalued between Chinese Yuan and European Euro, and by how much? Let home curreny be European Euro and foreign currency be Chinese Yuan. Show your solution procedure in detail.

Go to the IMFs WEO site at

http://www.imf.org/external/pubs/ft/weo/2020/01/weodata/index.aspx