1 pound != 1 dollar != 1 rupee?
What is the value 1 dollar in the US relative to 1 pound in UK or 1 Rupee in India.
For example, earning 1000 pounds per month in UK is not the same as earning 2026 USD in USA or earning 80,500 in India. (as of today’s exchange rate). I know Rs 80,000 in India means a lot more than $2000 in US… It depends on the cost of living in the individual country… How do we come up with a comparison…
What you’re asking about is calling “purchasing power parity” or PPP. It’s based on the prices of a common bundle of goods and services across several countries, and it’s a real pain to calculate. Luckily, you don’t have to! Many sites will do it for you. Try the CIA Factbook – it should show you the GDP of the country listed twice, once using the official exchange rate and once using PPP. You can figure out the actual value of 1 dollar in that way. There may also be sites that simply list the purchasing power parity ratio for countries.
Good luck!
