Melbourne, Nov 3 : The cheapest place in the world to buy an Apple iPod is Australia, owing to the dramatic fall in the country's dollar in the last several months, says a new study.
The study conducted by CommSec reflects its "iPod index", which measures the price of an 8GB iPod nano in 62 countries to compare currencies.
According to CommSec chief economist Craig James, Australia went to the cheapest spot after being placed 14th cheapest in July.
The study revealed that an 8GB iPod costs 131.95 US Dollars.
In July, a 4GB iPod, then considered the entry-level product, cost 181.50 US Dollars.
"It's quite remarkable, we are the cheapest by a long way. Our currency has fallen dramatically," the Australian quoted James as saying.
He added that a British tourist might get an iPod 25 percent cheaper in Australia than in their home country,
James claimed that, according to the iPod index, the Australian dollar might have fallen too far too quickly.
"It has become too cheap in a very short space of time," he said.