The intrinsic value of something is said to be the value that that thing has in itself or for. The exchange rate in the long run needs to be at the level which a basket of goods costs the same in two currencies.
The Big Mac Index
It turns out there is at least a rough level to which a currency should be worth as detailed in the Purchasing Power Parity Theory.
. Growth is usually calculated in real terms ie inflation. Economic growth can be defined as the increase or improvement in the inflation-adjusted market value of the goods and services produced by an economy over a certain period of time. Intrinsic value has traditionally been thought to lie at the heart of ethics.
Statisticians conventionally measure such growth as the percent rate of increase in the real gross domestic product or real GDP. Philosophers use a number of terms to refer to such value. Thus if a Mickey Mantle rookie card for instance costs 50000 Canadian and 25000 US.
Another theory purchasing-power parity ppp says currencies and prices should adjust until a basket of goods and services costs the same everywhere.
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