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International dollar
From Wikipedia, the free encyclopedia
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It has been suggested that this article or section be merged with Geary-Khamis dollar. (Discuss) |
The international dollar is a hypothetical unit of currency that has the same purchasing power that the U.S. dollar has in the United States at a given point in time, i.e. it means the U.S. dollar converted at purchasing power parity (PPP) exchange rates. It shows how much a local currency unit is worth within the country's borders. It is used to make comparisons both between countries and over time. For example, comparing per capita gross domestic product (GDP) of various countries in international dollars, rather than based simply on exchange rates, provides a more valid measure to compare standards of living.
The term, while not in widespread use, is sometimes used by international organizations such as the World Bank and the International Monetary Fund in their published statistics.
Figures expressed in international dollars cannot be converted to another country's currency using current market exchange rates; instead they must be converted using the country's PPP exchange rate used in the study.
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