parity exchange rate

Economists rely on so-called purchasing power parity exchange rates.

All monetary values are based on the OECD's purchasing power parity exchange rates.

The level of GDP in different countries may be compared by converting their value in national currency according to either the current currency exchange rate, or the purchasing power parity exchange rate.

Purchasing power parity exchange rate is the exchange rate based on the purchasing power parity (PPP) of a currency relative to a selected standard (usually the United States dollar).

The comparison of water and wastewater tariffs across countries is further complicated by the choice of the appropriate exchange rate (nominal exchange rates for a given year or over the average of several years, or purchasing power parity exchange rates).