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Suppose the price of a BigMac Burger is 220 Rs. in India and 8$ in United States on Dec 31st, 2019.The prevailing market determined exchange

Suppose the price of a BigMac Burger is 220 Rs. in India and 8$ in United States on Dec 31st, 2019.The prevailing market determined exchange rate between INR and USD is 65.5 on the same day. To what extent is INR undervalued/overvalued against the USD, based on absolute purchasing power parity theory?

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