换句话说，原始的巨无霸指数暗示人民币对美元的汇率被低估了44%。
In other words, the raw Big Mac index suggests that the yuan is undervalued by 44% against the dollar.
我们的指数表明公允价值率为1美元等于3.54人民币，相比之下目前的汇率为6.78。
Our index suggests that a fair-value rate would be 3.54 yuan to the dollar, compared with the current rate of 6.78.
代替消费者价格指数，如果我们使用劳动力成本的涨幅作为实际通胀指数，来计算实际有效汇率，那么自2005年起人民币已经升值了50%。
If we use the rise in labor costs as the DE facto inflation index - instead of the CPI - to compute the real effective exchange rate, the yuan has appreciated 50 percent already since 2005.
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