Parity between two currencies at a rate of exchange that gives each currency exactly the same purchasing power in its own economy; also attributive in "purchasing power parity theory".
Origin
Early 20th century.
Definition of purchasing power parity in US English:
purchasing power parity
noun
Economics
Parity between two currencies at a rate of exchange that gives each currency exactly the same purchasing power in its own economy; also attributive in "purchasing power parity theory".