Purchasing power is the value of a currency in real terms—based on the goods and services each unit can be exchanged for. Remember when you could buy two Mcdonald's Big Macs with a $5 bill in 2000?

PPPs compare the purchasing power of monetary units in different countries ... For example: PPP Country X <-> Netherlands = 103: For every euro spent in the Netherlands, you need to spend 103 in ...

The euro has unexpectedly surged in recent hours, climbing five pesos in Cuba's informal exchange market this Tuesday.