The Curry Pork Chop Index shows that the yen is seriously undervalued, with the creator claiming it is more accurate than the Big Mac Index.

As the impact of authorities' intervention in the currency market is fading, Geoff Yu, a senior strategist at BNY Mellon, is using the price of a popular Japanese fast food dish to accurately gauge the weakness of the yen. Yu has created the Curry Pork Cutlet Index as an alternative to The Economist's Big Mac Index. He believes that international price comparisons of curry rice reflect how the depreciation of the yen affects the Japanese populace more accurately than comparing hamburgers such as the Big Mac. On Wednesday morning, the global foreign exchange market saw the exchange rate of 1 USD to approximately 159.23 JPY. However, according to Yu's calculations, taking into account the purchasing power of the yen as reflected by curry meal prices, 1 USD should only exchange for 62.18 JPY. This indicates that the foreign exchange market is significantly underestimating the yen. In contrast, the Big Mac Index, based on prices of McDonald's hamburgers in different countries, suggests that 1 USD should be able to exchange for 80.30 JPY. Yu stated that if the goal is to align purchasing power with high-income countries, this index shows that the yen needs to be stronger. He based his calculations on prices from CoCo Ichibanya, the largest curry rice chain in the world, which has approximately 1,500 locations globally.