iPod Index: Using iPods To Measure Currency Values

[jeffrey]

An Australian investment bank has developed a new indicator for tracking international currency values using the cost of an Apple iPod as a benchmark.

Commonwealth Securities Ltd. last week announced the creation of its iPod Index to assess the value of global currencies by comparing the cost of a 2-gigabyte iPod Nano music player in dollars across different countries.

The index is based on the economic principle that one dollar should buy the same quantity of goods across all countries, and that currencies will fluctuate to close any gaps in purchasing power... Entire Article