# Value of 1993 Australian Dollars today

\$100 in 1993

\$193.62 in 2020

The inflation rate in Australia between 1993 and today has been 93.62%, which translates into a total increase of \$93.62. This means that 100 dolars in 1993 are equivalent to 193.62 dolars in 2020. In other words, the purchasing power of \$100 in 1993 equals \$193.62 today. The average annual inflation rate has been 2.39%.

## Inflation timeline in Australia (1993-2020)

The following chart depicts the equivalence of \$100 throughout the years due to inflation and CPI changes. All values are equivalent in terms of purchasing power, which means that for each year the same goods or services could be bought with the indicated amount of money.

All calculations are performed in the local currency (AUD) and using 6 decimal digits. Results show only up to 2 decimal digits to favour readability. Inflation data is provided by governments and international institutions on a monthly basis. Today's values were obtained by estimating figures from recent trends.

The following table contains relevant indicators:

Indicator Value
Total Inflation (1993-2020) 93.34%
Total Inflation* 93.62%
Annual inflation avg. (1993-2020) 2.47%
Annual inflation avg.* 2.39%
CPI 1993 55.82
CPI 2020 107.92
CPI today* 108.07
\$1 in 1993 \$1.93 in 2020

* Values extrapolated from the last official data to obtain today's values.

## How to calculate today's value of money after inflation?

There are several ways to calculate the time value of money. Depending on the data available, results can be obtained by using the compound interest formula or the Consumer Price Index (CPI) formula.

#### Using the compound interest formula

Given that money changes with time as a result of an inflation rate that acts as a compound interest, the following formula can be used: FV = PV (1 + i)n, where:

• FV: Future Value
• PV: Present Value
• i: Interest rate (inflation)
• n: Number of times the interest is compounded (i.e. # of years)

In this case, the future value represents the final amount obtained after applying the inflation rate to our initial value. In other words, it indicates how much are \$100 worth today. There are 27 years between 1993 and 2020 and the average inflation rate has been 2.3878%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = \$100 * (1 + 0.02)27 = \$193.34

#### Using the CPI formula

When the CPI for both start and end years is known, the following formula can be used:

Final value = Initial value *
CPI final/CPI initial

In this case, the CPI in 1993 was 55.82 and the CPI today is 108.07. Therefore,

Final value = Initial value *
CPI final/CPI initial
= \$100 *
107.92/55.82
= \$193.34

### Australia inflation - Conversion table

Initial Value Equivalent value
\$1 dollar in 1993 \$1.94 dolars today
\$5 dolars in 1993 \$9.68 dolars today
\$10 dolars in 1993 \$19.36 dolars today
\$50 dolars in 1993 \$96.81 dolars today
\$100 dolars in 1993 \$193.62 dolars today
\$500 dolars in 1993 \$968.11 dolars today
\$1,000 dolars in 1993 \$1,936.21 dolars today
\$5,000 dolars in 1993 \$9,681.06 dolars today
\$10,000 dolars in 1993 \$19,362.11 dolars today
\$50,000 dolars in 1993 \$96,810.56 dolars today
\$100,000 dolars in 1993 \$193,621.13 dolars today
\$500,000 dolars in 1993 \$968,105.64 dolars today
\$1,000,000 dolars in 1993 \$1,936,211.28 dolars today

Period Value
1993 100
1994 101.83
1995 104.49
1996 109.82
1997 111.48
1998 111.15
1999 112.81
2000 114.98
2001 121.63
2002 125.46
2003 129.12
2004 132.28
2005 135.61
2006 139.43
2007 144.09
2008 148.25
2009 153.74
2010 156.91
2011 161.23
2012 166.06
2013 169.72
2014 174.38
2015 177.37
2016 180.37
2017 183.03
2018 186.52
2019 189.85
2020 193.34
Today 193.62