Dollar vs iPod
Wed, 24 January 2007
How do we know if our dollar is a good value here in Australia? Well, we check how much an iPod Nano costs and we compare it with the price of the same elsewhere.
Just over 20 years ago, The Economist magazine launched an index based on a McDonalds hamburger – the Big Mac index – a practical way of assessing whether a particular currency was under or over-valued against other currencies.
So, in the same spirit as the Big Mac index, CommSec has compiled the iPod index – a comparison of prices for the popular iPod nano music player across the world. Results released today showed that Apple sold 21 million iPods in the past quarter.
Of 26 countries surveyed, Australia is the eighth cheapest place to buy a 2 gigabyte iPod nano in US dollar terms. The most expensive country is Brazil (US$327.71), the cheapest is Canada (US$144.20), while in Australia the local purchase price of $219 in Australia converts to US$172.36.
Source: CommSec
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