Value of 1994 Chinese Renminbis today

¥100 in 1994

¥221.1 in 2018

The inflation rate in China between 1994 and today has been 121.1%, which translates into a total increase of ¥121.1. This means that 100 renminbis in 1994 are equivalent to 221.1 renminbis in 2018. In other words, the purchasing power of ¥100 in 1994 equals ¥221.1 today. The average annual inflation rate has been 3.22%.

Inflation timeline in China (1994-2018)

The following chart ilustrates the equivalence of ¥100 throughout the years due to inflation and CPI changes. All values are equivalent in terms of purchashing 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 (CNY) 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 (1994-2018) 117.15%
Total Inflation* 121.1%
Annual inflation avg. (1994-2018) 3.28%
Annual inflation avg.* 3.22%
CPI 1994 48.12
CPI 2018 104.5
CPI today* 106.4
¥1 in 1994 ¥2.17 in 2018

* 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 in 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 24 years between 1994 and 2018 and the average inflation rate has been 3.2247%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = ¥100 * (1 + 0.03)24 = ¥217.15

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 1994 was 48.12 and the CPI today is 106.4. Therefore,

Final value = Initial value *
CPI final/CPI initial
= ¥100 *
104.5/48.12
= ¥217.15

China inflation - Conversion table

Initial Value Equivalent value
¥1 renminbi in 1994 ¥2.21 renminbis today
¥5 renminbis in 1994 ¥11.06 renminbis today
¥10 renminbis in 1994 ¥22.11 renminbis today
¥50 renminbis in 1994 ¥110.55 renminbis today
¥100 renminbis in 1994 ¥221.1 renminbis today
¥500 renminbis in 1994 ¥1,105.51 renminbis today
¥1,000 renminbis in 1994 ¥2,211.02 renminbis today
¥5,000 renminbis in 1994 ¥11,055.12 renminbis today
¥10,000 renminbis in 1994 ¥22,110.24 renminbis today
¥50,000 renminbis in 1994 ¥110,551.18 renminbis today
¥100,000 renminbis in 1994 ¥221,102.37 renminbis today
¥500,000 renminbis in 1994 ¥1,105,511.84 renminbis today
¥1,000,000 renminbis in 1994 ¥2,211,023.67 renminbis today

Value of Renminbi in time (by year)

Period Value
1994 100
1995 125.5
1996 138.18
1997 147.85
1998 148.44
1999 146.95
2000 145.49
2001 147.67
2002 147.22
2003 146.59
2004 151.3
2005 154.79
2006 157.23
2007 161.65
2008 172.29
2009 174.46
2010 177.43
2011 185.54
2012 193.02
2013 197.9
2014 202.86
2015 205.72
2016 209.05
2017 213.2
2018 217.15
Today 221.1