If you're a foreigner in the U.S., it is now more expensive for you to buy goods in the U.S. than in most major countries, thanks to the rising strength of the U.S. dollar.
But, on the bright side, traveling Americans who like Mickey D's can get a lot more Big Mac for their dollars, according to The Economist.
For years, The Economist has been using McDonald's Big Mac cheeseburger as a benchmark for currencies, because it's a basic, familiar item that exists in the same form across all countries. The latest index print shows that "Americans hunting for cut-price burgers abroad are spoilt for choice: the index shows most currencies to be cheap relative to the greenback."
The dollar has gotten stronger against other currencies because of weak economic growth abroad, relatively solid growth in the U.S., and robust U.S. oil production, among other reasons. The value of the U.S. dollar was up 12% against major currencies in December compared with a year earlier.
Here is the value of the Big Mac in eight major countries, compared with the U.S.
Euro area: $4.00
There are only a handful of exceptions where Big Macs are more expensive abroad than in the U.S. These tend to be in nations with very conservative fiscal and monetary regimes, like the Nordic countries. The most expensive Big Mac in the world is…
Rob covers business, economics and the environment for Fusion. He previously worked at Business Insider. He grew up in Chicago.