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Value of 1993 Colombian Pesos today

$100 in 1993
$1,002.15 in 2024

The inflation rate in Colombia between 1993 and today has been 902.15%, which translates into a total increase of $902.15. This means that 100 pesos in 1993 are equivalent to 1,002.15 pesos in 2024. In other words, the purchasing power of $100 in 1993 equals $1,002.15 today. The average annual inflation rate between these periods has been 7.72%.

Inflation timeline in Colombia (1993 - 2024)

The following chart depicts the equivalence of $100 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 (COP) 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 1993-2023 866.04%
Cumulative inflation 1993-today 902.15%
Avg. Annual inflation 1993-2023 7.85%
CPI 1993 16.21
CPI 2023 156.58
CPI 2023-12 (latest official data) 160.96
CPI today 162.43

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 1993 and 2023, use the corresponding CPI values:

Value2023
=Value1993 ×
CPI2023/CPI1993
=$ 100 ×
156.58/16.21
$966.04

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 162.43:

Valuetoday
=Value1993 ×
CPItoday/CPI1993
=$ 100 ×
162.43/16.21
$1,002.15

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 $100 worth today. There are 30 years between 1993 and 2023 and the average inflation rate was 7.8532%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=$100 × (1 + 0.078532)30
$966.04

Colombia inflation - Conversion table

Initial Value Equivalent value
$1 peso in 1993 $9.66 pesos in 2023
$5 pesos in 1993 $48.3 pesos in 2023
$10 pesos in 1993 $96.6 pesos in 2023
$50 pesos in 1993 $483.02 pesos in 2023
$100 pesos in 1993 $966.04 pesos in 2023
$500 pesos in 1993 $4,830.18 pesos in 2023
$1,000 pesos in 1993 $9,660.36 pesos in 2023
$5,000 pesos in 1993 $48,301.78 pesos in 2023
$10,000 pesos in 1993 $96,603.56 pesos in 2023
$50,000 pesos in 1993 $483,017.82 pesos in 2023
$100,000 pesos in 1993 $966,035.64 pesos in 2023
$500,000 pesos in 1993 $4,830,178.19 pesos in 2023
$1,000,000 pesos in 1993 $9,660,356.38 pesos in 2023
Cumulative inflation From 1993 902.15%
Avg. annual inflation From 1993 7.72%
CPI 1993 16.21
CPI today 162.43

Value of Peso over time (by year)

Period Value
1993 100
1994 122.85
1995 148.51
1996 179.4
1997 212.53
1998 252.23
1999 279.65
2000 305.45
2001 329.78
2002 350.73
2003 375.74
2004 397.92
2005 418.02
2006 435.97
2007 460.14
2008 492.33
2009 513.02
2010 524.68
2011 542.6
2012 559.79
2013 571.08
2014 587.64
2015 616.96
2016 663.32
2017 691.93
2018 714.36
2019 739.52
2020 758.21
2021 784.71
2022 864.57
2023 966.04
2023-12 993.07
Today 1,002.15

All available years

Today's value of colombian pesos by year:

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 |

Other currencies: