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Value of 1993 Australian Dollars today

$100 in 1993
$232.14 in 2024

The inflation rate in Australia between 1993 and today has been 132.14%, which translates into a total increase of $132.14. This means that 100 dollars in 1993 are equivalent to 232.14 dollars in 2024. In other words, the purchasing power of $100 in 1993 equals $232.14 today. The average annual inflation rate between these periods has been 2.75%.

Inflation timeline in Australia (1993 - 2024)

The following chart depicts the equivalence of $100 due to compound 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 extrapolated from the latest 12-month rolling average official data.

The following table contains relevant indicators:

Indicator Value
Cumulative inflation 1993-2023 120.64%
Cumulative inflation 1993-today 132.14%
Avg. Annual inflation 1993-2023 2.67%
CPI 1993 56.58
CPI 2023 124.84
CPI 2024-Q3 (latest official data) 129.19
CPI today 131.35

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 Consumer Price Index (CPI) formula or the compound interest formula.

Using the CPI formula

When we have both the start and end years, we can use the following formula:

Valuet =Value0 ×
CPIt/CPI0

To obtain the values equivalent in buying power between 1993 and 2023, use the corresponding CPI values:

Value2023
=Value1993 ×
CPI2023/CPI1993
=$ 100 ×
124.84/56.58
$220.64

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 131.35:

Valuetoday
=Value1993 ×
CPItoday/CPI1993
=$ 100 ×
131.35/56.58
$232.14

Alternative: Using the compound interest formula

Given that money changes with time as a result of an inflation rate that acts as compound interest, we can use the following formula: 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 30 years between 1993 and 2023 and the average inflation rate was 2.673%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=$100 × (1 + 0.02673)30
$220.64

Australia inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1993 $2.21 dollars in 2023
$5 dollars in 1993 $11.03 dollars in 2023
$10 dollars in 1993 $22.06 dollars in 2023
$50 dollars in 1993 $110.32 dollars in 2023
$100 dollars in 1993 $220.64 dollars in 2023
$500 dollars in 1993 $1,103.2 dollars in 2023
$1,000 dollars in 1993 $2,206.4 dollars in 2023
$5,000 dollars in 1993 $11,032.01 dollars in 2023
$10,000 dollars in 1993 $22,064.02 dollars in 2023
$50,000 dollars in 1993 $110,320.08 dollars in 2023
$100,000 dollars in 1993 $220,640.16 dollars in 2023
$500,000 dollars in 1993 $1,103,200.81 dollars in 2023
$1,000,000 dollars in 1993 $2,206,401.61 dollars in 2023
Cumulative inflation From 1993 132.14%
Avg. annual inflation From 1993 2.75%
CPI 1993 56.58
CPI today 131.35

Value of Dollar over time (by year)

Period Value
1993 100
1994 101.97
1995 106.69
1996 109.48
1997 109.73
1998 110.67
1999 112.31
2000 117.32
2001 122.49
2002 126.14
2003 129.59
2004 132.62
2005 136.19
2006 141.03
2007 144.32
2008 150.59
2009 153.26
2010 157.73
2011 162.95
2012 165.82
2013 169.88
2014 174.11
2015 176.73
2016 178.99
2017 182.48
2018 185.97
2019 188.96
2020 190.56
2021 196.02
2022 208.95
2023 220.64
2024-Q3 228.31
Today 232.14

All available years

Today's value of australian dollars by year:

1949 | 1950 | 1951 | 1952 | 1953 | 1954 | 1955 | 1956 | 1957 | 1958 | 1959 | 1960 | 1961 | 1962 | 1963 | 1964 | 1965 | 1966 | 1967 | 1968 | 1969 | 1970 | 1971 | 1972 | 1973 | 1974 | 1975 | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |

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