# Value of 1968 Canadian Dollar today

\$100 in 1968

\$747 in 2021

The inflation rate in Canada between 1968 and today has been 647%, which translates into a total increase of \$647. This means that 100 dollars in 1968 are equivalent to 747 dollars in 2021. In other words, the purchasing power of \$100 in 1968 equals \$747 today. The average annual inflation rate has been 3.79%.

## Inflation timeline in Canada (1968-2021)

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 (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 obtained by estimating figures from recent trends.

The following table contains relevant indicators:

Indicator Value
Total Inflation (1968-2021) 646.74%
Total Inflation* 647%
Annual inflation avg. (1968-2021) 3.87%
Annual inflation avg.* 3.79%
CPI 1968 14.54
CPI 2021 108.56
CPI today* 108.6
\$1 in 1968 \$7.47 in 2021

* 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 53 years between 1968 and 2021 and the average inflation rate has been 3.7941%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = \$100 * (1 + 0.04)53 = \$746.74

#### 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 1968 was 14.54 and the CPI today is 108.6. Therefore,

Final value = Initial value *
CPI final/CPI initial
= \$100 *
108.56/14.54
= \$746.74

### Canada inflation - Conversion table

Initial Value Equivalent value
\$1 dollar in 1968 \$7.47 dollars today
\$5 dollars in 1968 \$37.35 dollars today
\$10 dollars in 1968 \$74.7 dollars today
\$50 dollars in 1968 \$373.5 dollars today
\$100 dollars in 1968 \$747 dollars today
\$500 dollars in 1968 \$3,734.99 dollars today
\$1,000 dollars in 1968 \$7,469.98 dollars today
\$5,000 dollars in 1968 \$37,349.89 dollars today
\$10,000 dollars in 1968 \$74,699.79 dollars today
\$50,000 dollars in 1968 \$373,498.94 dollars today
\$100,000 dollars in 1968 \$746,997.88 dollars today
\$500,000 dollars in 1968 \$3,734,989.42 dollars today
\$1,000,000 dollars in 1968 \$7,469,978.85 dollars today

Period Value
1968 100
1969 104.35
1970 109.24
1971 110.33
1972 115.76
1973 121.74
1974 133.15
1975 150
1976 164.13
1977 173.37
1978 189.67
1979 205.98
1980 226.09
1981 251.09
1982 281.52
1983 307.61
1984 321.74
1985 333.7
1986 348.37
1987 363.04
1988 378.26
1989 392.93
1990 413.59
1991 434.24
1992 450.54
1993 460.33
1994 467.93
1995 469.02
1996 477.17
1997 487.5
1998 491.3
1999 496.2
2000 509.24
2001 525.54
2002 529.35
2003 549.46
2004 560.87
2005 572.83
2006 584.78
2007 594.57
2008 608.7
2009 615.76
2010 623.91
2011 638.59
2012 653.26
2013 658.7
2014 666.85
2015 676.63
2016 687.5
2017 697.83
2018 710.87
2019 725
2020 741.3
2021 746.74
Today 747