Why is the Japanese Yen weaker than the Indian Rupee even though the Japanese economy is in much better condition than its Indian Counterpart?
1$= about 60 Indian rupee, while
1$=about 100 Japanese yen
In japan they like to use large numbers and a yen is like a cent they don't really use decimals for prices.
For example a soda costs like 100 yen from a soda machine.
The exchange rate says nothing about a countries wealth in itself. You need to consider cultural differences and prices of items as well.
For example a 500mL bucket of Ben and Jerries ice cream costs about €5 in the Netherlands, about 600 rupee in India ($10) and I suspect about 500 yen in japan but I may be wrong on that. If you compare the price of several common products between several countries you can easily see the difference in the economy
As a general rule:
In a poor country products of specific brands (imported) are more expensive (such as Ben and Jerries or McDonalds) (being on an island or otherwise logistically remote place may affect prices negatively as well)
In a poor country local food, goods and services are very cheap compared to western countries. (For example taking a taxi in the Netherlands or Japan will quickly cost you about €10 for a short ride. In India a taxi or equivalent would likely not even cost you €1)
In general things are very cheap in India (except imported goods, which most locals can hardly afford), but in japan everything is pretty expensive, even for western standards.
