The latest update to The Economist's Big Mac Index (a light-hearted guide to purchasing power around the world based on the local price of a Big Mac) has found that the New Zealand dollar is almost perfectly valued against the US dollar.
The high dollar has been top of mind for Kiwi exporters, and not in a good way, but the index reckons it's more or less where it should be, undervalued by just one percent.
Against the British pound it is 1.8 percent undervalued and against the euro it is 11.3 percent undervalued.
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