Assignment:
You are planning your vacation trip to Europe this summer. You are considering Switzerland; however, Switzerland is more expensive relative to other European countries. You are concerned that your US Dollar may not go far in Switzerland; a Big Mac will cost you $6.74 according to the Economist survey of the Big Mac Index. Geringer et al. explained what the Big Mac Index (on page 136) vis-à-vis the PPP (Purchasing Power Parity).
Find out how much US dollar does it take to buy 1 Swiss Franc and Euro? Please include your source for the foreign exchange rates.