# Value of 1993 Canadian Dollar today

\$100 in 1993

\$162.28 in 2021

The inflation rate in Canada between 1993 and today has been 62.28%, which translates into a total increase of \$62.28. This means that 100 dollars in 1993 are equivalent to 162.28 dollars in 2021. In other words, the purchasing power of \$100 in 1993 equals \$162.28 today. The average annual inflation rate has been 1.68%.

## Inflation timeline in Canada (1993-2021)

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 (1993-2021) 62.22%
Total Inflation* 62.28%
Annual inflation avg. (1993-2021) 1.74%
Annual inflation avg.* 1.68%
CPI 1993 66.92
CPI 2021 108.56
CPI today* 108.6
\$1 in 1993 \$1.62 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 28 years between 1993 and 2021 and the average inflation rate has been 1.6834%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = \$100 * (1 + 0.02)28 = \$162.22

#### 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 66.92 and the CPI today is 108.6. Therefore,

Final value = Initial value *
CPI final/CPI initial
= \$100 *
108.56/66.92
= \$162.22

### Canada inflation - Conversion table

Initial Value Equivalent value
\$1 dollar in 1993 \$1.62 dollars today
\$5 dollars in 1993 \$8.11 dollars today
\$10 dollars in 1993 \$16.23 dollars today
\$50 dollars in 1993 \$81.14 dollars today
\$100 dollars in 1993 \$162.28 dollars today
\$500 dollars in 1993 \$811.38 dollars today
\$1,000 dollars in 1993 \$1,622.76 dollars today
\$5,000 dollars in 1993 \$8,113.79 dollars today
\$10,000 dollars in 1993 \$16,227.58 dollars today
\$50,000 dollars in 1993 \$81,137.88 dollars today
\$100,000 dollars in 1993 \$162,275.76 dollars today
\$500,000 dollars in 1993 \$811,378.8 dollars today
\$1,000,000 dollars in 1993 \$1,622,757.61 dollars today

Period Value
1993 100
1994 101.65
1995 101.89
1996 103.66
1997 105.9
1998 106.73
1999 107.79
2000 110.63
2001 114.17
2002 114.99
2003 119.36
2004 121.84
2005 124.44
2006 127.04
2007 129.16
2008 132.23
2009 133.77
2010 135.54
2011 138.72
2012 141.91
2013 143.09
2014 144.86
2015 146.99
2016 149.35
2017 151.59
2018 154.43
2019 157.5
2020 161.04
2021 162.22
Today 162.28