Regarding Currency Conversion…?
I don’t need to know of a currency conversion calculator, there are plenty of those out there, two popular ones being http://www.xe.com and http://www.x-rates.com
My question is… how do you find out what X amount of Foreign Currency would buy you without actually going to the country?
For example, 50 USD (US Dollars) converts to roughly 388 HKD (Hong Kong Dollars). But how do I know what 388 HKD would buy me in Hong Kong?
Prices for goods and services are different all around the world. I know that what $5.00 would buy you in the US certainly isn’t the same as what $5.00 (15,400 SLL) would buy you in Sierra Leone. So again, how do you find out WHAT it would buy you without actually going there?
try the big mac calculator:
http://www.econ.puc-rio.br/Mgarcia/Macro%20II/Big_Mac_Index.PDF
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