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The document repeatedly states that PPP is basically equivalent to the equilibrium exchange rate, stating this equivalence over 30 times.

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PPP = basically equilibrium exchange rate.

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PPP = basically equilibrium exchange rate.

PPP = basically equilibrium exchange rate.

PPP = basically equilibrium exchange rate.

PPP = basically equilibrium exchange rate.

PPP = basically equilibrium exchange rate.

PPP = basically equilibrium exchange rate.

PPP = basically equilibrium exchange rate.

PPP = basically equilibrium exchange rate.

PPP = basically equilibrium exchange rate.

PPP = basically equilibrium exchange rate.

PPP = basically equilibrium exchange rate.

PPP = basically equilibrium exchange rate.

PPP = basically equilibrium exchange rate.

PPP = basically equilibrium exchange rate.

PPP = basically equilibrium exchange rate.

PPP = basically equilibrium exchange rate.

PPP = basically equilibrium exchange rate.

PPP = basically equilibrium exchange rate.

PPP = basically equilibrium exchange rate.

PPP = basically equilibrium exchange rate.

PPP = basically equilibrium exchange rate.

PPP = basically equilibrium exchange rate.

PPP = basically equilibrium exchange rate.

PPP = basically equilibrium exchange rate.

PPP = basically equilibrium exchange rate.

PPP = basically equilibrium exchange rate.

PPP = basically equilibrium exchange rate.

PPP = basically equilibrium exchange rate.

PPP = basically equilibrium exchange rate.

PPP = basically equilibrium exchange rate.

PPP = basically equilibrium exchange rate.

PPP = basically equilibrium exchange rate.

PPP = basically equilibrium exchange rate.

PPP = basically equilibrium exchange rate.

PPP = basically equilibrium exchange rate.

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