# Value of 1984 Canadian Dollar today

\$100 in 1984

\$232.17 in 2021

The inflation rate in Canada between 1984 and today has been 132.17%, which translates into a total increase of \$132.17. This means that 100 dollars in 1984 are equivalent to 232.17 dollars in 2021. In other words, the purchasing power of \$100 in 1984 equals \$232.17 today. The average annual inflation rate has been 2.24%.

## Inflation timeline in Canada (1984-2021)

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 (1984-2021) 132.09%
Total Inflation* 132.17%
Annual inflation avg. (1984-2021) 2.3%
Annual inflation avg.* 2.24%
CPI 1984 46.77
CPI 2021 108.56
CPI today* 108.6
\$1 in 1984 \$2.32 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 37 years between 1984 and 2021 and the average inflation rate has been 2.2414%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = \$100 * (1 + 0.02)37 = \$232.09

#### 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 1984 was 46.77 and the CPI today is 108.6. Therefore,

Final value = Initial value *
CPI final/CPI initial
= \$100 *
108.56/46.77
= \$232.09

### Canada inflation - Conversion table

Initial Value Equivalent value
\$1 dollar in 1984 \$2.32 dollars today
\$5 dollars in 1984 \$11.61 dollars today
\$10 dollars in 1984 \$23.22 dollars today
\$50 dollars in 1984 \$116.09 dollars today
\$100 dollars in 1984 \$232.17 dollars today
\$500 dollars in 1984 \$1,160.87 dollars today
\$1,000 dollars in 1984 \$2,321.75 dollars today
\$5,000 dollars in 1984 \$11,608.75 dollars today
\$10,000 dollars in 1984 \$23,217.5 dollars today
\$50,000 dollars in 1984 \$116,087.48 dollars today
\$100,000 dollars in 1984 \$232,174.96 dollars today
\$500,000 dollars in 1984 \$1,160,874.82 dollars today
\$1,000,000 dollars in 1984 \$2,321,749.64 dollars today

Period Value
1984 100
1985 103.72
1986 108.28
1987 112.84
1988 117.57
1989 122.13
1990 128.55
1991 134.97
1992 140.03
1993 143.07
1994 145.44
1995 145.78
1996 148.31
1997 151.52
1998 152.7
1999 154.22
2000 158.28
2001 163.34
2002 164.53
2003 170.78
2004 174.32
2005 178.04
2006 181.76
2007 184.8
2008 189.19
2009 191.39
2010 193.92
2011 198.48
2012 203.04
2013 204.73
2014 207.26
2015 210.3
2016 213.68
2017 216.89
2018 220.95
2019 225.34
2020 230.41
2021 232.09
Today 232.17