Value of 1994 Colombian Pesos today

$100 in 1994

$673.14 in 2019

The inflation rate in Colombia between 1994 and today has been 573.14%, which translates into a total increase of $573.14. This means that 100 pesos in 1994 are equivalent to 673.14 pesos in 2019. In other words, the purchasing power of $100 in 1994 equals $673.14 today. The average annual inflation rate has been 7.61%.

Inflation timeline in Colombia (1994-2019)

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 (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 obtained by estimating figures from recent trends.

The following table contains relevant indicators:

Indicator Value
Total Inflation (1994-2019) 571.59%
Total Inflation* 573.14%
Annual inflation avg. (1994-2019) 7.92%
Annual inflation avg.* 7.61%
CPI 1994 17.4
CPI 2019 116.88
CPI today* 117.15
$1 in 1994 $6.72 in 2019

* 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 25 years between 1994 and 2019 and the average inflation rate has been 7.6094%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = $100 * (1 + 0.08)25 = $671.59

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 17.4 and the CPI today is 117.15. Therefore,

Final value = Initial value *
CPI final/CPI initial
= $100 *
116.88/17.4
= $671.59

Colombia inflation - Conversion table

Initial Value Equivalent value
$1 peso in 1994 $6.73 pesos today
$5 pesos in 1994 $33.66 pesos today
$10 pesos in 1994 $67.31 pesos today
$50 pesos in 1994 $336.57 pesos today
$100 pesos in 1994 $673.14 pesos today
$500 pesos in 1994 $3,365.69 pesos today
$1,000 pesos in 1994 $6,731.38 pesos today
$5,000 pesos in 1994 $33,656.92 pesos today
$10,000 pesos in 1994 $67,313.84 pesos today
$50,000 pesos in 1994 $336,569.21 pesos today
$100,000 pesos in 1994 $673,138.41 pesos today
$500,000 pesos in 1994 $3,365,692.06 pesos today
$1,000,000 pesos in 1994 $6,731,384.12 pesos today

Value of Peso in time (by year)

Period Value
1994 100
1995 122.57
1996 146.41
1997 178.11
1998 209.6
1999 244.59
2000 267.23
2001 290.6
2002 312.83
2003 334.72
2004 356.41
2005 376.02
2006 394.22
2007 411.89
2008 435.33
2009 468.77
2010 478.11
2011 493.35
2012 511.69
2013 524.18
2014 534.32
2015 553.86
2016 591.34
2017 625.32
2018 650.84
2019 671.59
Today 673.14