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Value of 1957 Canadian Dollar today

$20 in 1957
$217.49 in 2024

The inflation rate in Canada between 1957 and today has been 987.45%, which translates into a total increase of $197.49. This means that 20 dollars in 1957 are equivalent to 217.49 dollars in 2024. In other words, the purchasing power of $20 in 1957 equals $217.49 today. The average annual inflation rate between these periods has been 3.63%.

Inflation timeline in Canada (1957 - 2024)

The following chart depicts the equivalence of $20 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 (CAD) 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 1957-2023 961.54%
Cumulative inflation 1957-today 987.45%
Avg. Annual inflation 1957-2023 3.64%
CPI 1957 11.69
CPI 2023 124.13
CPI 2024-04 (latest official data) 126.89
CPI today 127.16

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 1957 and 2023, use the corresponding CPI values:

Value2023
=Value1957 ×
CPI2023/CPI1957
=$ 20 ×
124.13/11.69
$212.31

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 127.16:

Valuetoday
=Value1957 ×
CPItoday/CPI1957
=$ 20 ×
127.16/11.69
$217.49

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 $20 worth today. There are 66 years between 1957 and 2023 and the average inflation rate was 3.6441%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=$20 × (1 + 0.036441)66
$212.31

Canada inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1957 $10.62 dollars in 2023
$5 dollars in 1957 $53.08 dollars in 2023
$10 dollars in 1957 $106.15 dollars in 2023
$50 dollars in 1957 $530.77 dollars in 2023
$100 dollars in 1957 $1,061.54 dollars in 2023
$500 dollars in 1957 $5,307.72 dollars in 2023
$1,000 dollars in 1957 $10,615.43 dollars in 2023
$5,000 dollars in 1957 $53,077.15 dollars in 2023
$10,000 dollars in 1957 $106,154.31 dollars in 2023
$50,000 dollars in 1957 $530,771.53 dollars in 2023
$100,000 dollars in 1957 $1,061,543.05 dollars in 2023
$500,000 dollars in 1957 $5,307,715.27 dollars in 2023
$1,000,000 dollars in 1957 $10,615,430.53 dollars in 2023
Cumulative inflation From 1957 987.45%
Avg. annual inflation From 1957 3.63%
CPI 1957 11.69
CPI today 127.16

Value of Dollar over time (by year)

Period Value
1957 20
1958 20.47
1959 20.72
1960 21
1961 21.22
1962 21.44
1963 21.79
1964 22.21
1965 22.73
1966 23.59
1967 24.44
1968 25.43
1969 26.59
1970 27.48
1971 28.22
1972 29.63
1973 31.85
1974 35.35
1975 39.12
1976 42.07
1977 45.43
1978 49.5
1979 54.03
1980 59.5
1981 66.93
1982 74.13
1983 78.48
1984 81.86
1985 85.1
1986 88.67
1987 92.53
1988 96.26
1989 101.06
1990 105.89
1991 111.85
1992 113.51
1993 115.63
1994 115.82
1995 118.31
1996 120.17
1997 122.12
1998 123.33
1999 125.47
2000 128.89
2001 132.14
2002 135.12
2003 138.85
2004 141.43
2005 144.56
2006 147.45
2007 150.61
2008 154.18
2009 154.64
2010 157.39
2011 161.97
2012 164.43
2013 165.97
2014 169.13
2015 171.04
2016 173.48
2017 176.25
2018 180.25
2019 183.76
2020 185.08
2021 191.36
2022 204.38
2023 212.31
2024-04 217.03
Today 217.49

All available years

Today's value of canadian dollar by year:

1914 | 1915 | 1916 | 1917 | 1918 | 1919 | 1920 | 1921 | 1922 | 1923 | 1924 | 1925 | 1926 | 1927 | 1928 | 1929 | 1930 | 1931 | 1932 | 1933 | 1934 | 1935 | 1936 | 1937 | 1938 | 1939 | 1940 | 1941 | 1942 | 1943 | 1944 | 1945 | 1946 | 1947 | 1948 | 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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