该指数基于购买力评价理论确立，根据购买力平价理论长期汇率应当调整使两国同样的一篮子商品的价格相同。

It is based on the theory of purchasing-power parity (PPP), which argues that in the long run exchange rates should move to equalise the price of an identical basket of goods between two countries.

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其理论依据是购买力评价学说，该学说认为应使汇率最终调整到使各国一篮子商品的价格相同。

The recipe comes from the theory of purchasing-power parity, which says that exchange rates should eventually adjust to make the price of a basket of goods the same in each country.

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这表明欧元的购买力评价恰好是1美元，所以以当前$1.10的汇率计算，欧元被高估了10%。

This implies that the euro's PPP is exactly $1, so at its current rate of $1.10 the euro is 10% overvalued.

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