The hryvnia is worth half as much as indicated by the Big Mac Index.

From 2024 to 2025, Ukraine has moved up from eighth to sixth place in the Big Mac Index, according to data from The Economist. Calculations suggest that the dollar should be valued at 20 hryvnias; however, the current exchange rate significantly deviates from this figure.

The Big Mac Index, which is used to assess currency value, indicates that according to the theory of "burger economics," Ukrainians should be paying around 20 UAH for a dollar. However, the price of a hamburger at McDonald's in Ukraine is 120 UAH, which, based on the current NBU exchange rate, is equivalent to approximately 2.8 dollars. When adjusted for the index, the dollar should be priced at 20.73 UAH, while the actual exchange rate is 42 UAH. This suggests that the Ukrainian hryvnia is undervalued by 50.7% against the US dollar.

The infographic presented on The Economist's portal shows that Ukraine is among the countries with low currency values. It is on par with South Africa and Egypt, while stronger currencies include Moldova, Azerbaijan, and even Guatemala. Compared to other countries, Ukraine ranks sixth from the bottom in this index.

The graph also illustrates how the Big Mac Index for the hryvnia has changed from 2020 to 2025. The best performance was recorded in 2007-2008, while the greatest undervaluation occurred in 2015. In recent years, despite the ongoing war, the index remains at a level of undervaluation of 50%, reflecting a stable yet unfavorable currency situation for Ukraine.