archivePrices

Deutsche Bank's Mapping the World's Prices report provides a fascinating overview of the cost of living in the world's major metropolises. This year's edition, published on June 24, covers more than 69 cities and highlights striking dynamics in the cost of living and the crucial role of currencies in the hierarchy of the world's cities.Let’s take a closer look at where life is cheapest, where it’s painfully pricey, and how currency movements are drawing the map.Most expensive metropolises: A matter of strong currenciesThe United States and Switzerland dominate almost every...

The euro is the world’s second most-used currency, accounting for 20% of global foreign exchange reserves, compared with 58% for the US dollar.Harbour Asset Management fixed income and currency strategist, Hamish Pepper, said the greenback was losing favour, but only at the margin.“The set-up to this weakness in the US dollar was one where pretty much everybody acknowledged that it was an expensive, or overvalued, currency,” Pepper said.AdvertisementAdvertise with NZME.“It’s been supported by this exceptional US economy, so that was the story.“All of a sudden we’ve had a couple of...