The Big Mac index issued by the "Economist" newspaper showed that the value of a number of currencies of Arab countries is higher than their current price, led by Egypt, Lebanon, and the Gulf countries, despite the strength of their currencies against the dollar. The report indicated that although the Kuwaiti dinar is among the strongest currencies against the dollar, its real price is higher than its traded price by about 21.5 percent, as well as the UAE dirham by about 15.4 percent, and the price of the Saudi riyal is higher than its current value by about 12.5 percent.
The report revealed that the real value of the Egyptian pound against the dollar is about 53.6 percent higher than its current price of about 50.3 pounds to the dollar, or about 23.34 pounds to the dollar. The gap between real and official prices in Jordan was about 39.1 percent, Oman about 31.4 percent, Qatar about 28.8 percent, and Bahrain about 22.1 percent. According to the index, the weakest currency in the world, the Lebanese pound, its real value is about 7.4 percent higher than its current price.
Source (Al-Rai Kuwaiti Newspaper, Edited)
