What's the best way to buy foreign currency?

foreign-currencySeveral decades ago, a bank would usually be the best place to change money from one currency to another. There was always a feeling that a money-changing business would be more likely to “rip you off”. Now the tables have turned, and specialist currency exchange businesses are often the best value when buying travel money. [more…]

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What is the Big Mac index?

A Big Mac purchased in the Philippines, such as this one, is nearly identical to one you'd buy in the United States. But its price probably won't be the same. Glenmcbethlaw photo. CC-BY.The Big Mac index is a very quick and very easy way of comparing the relative value of two currencies. Developed by The Economist Newspaper, the Big Mac index is based on “burgernomics,” the partly tongue-in-cheek theory that a Big Mac, the flagship hamburger of the McDonald’s fast-food chain, “should” cost the same amount of [more…]

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