# Value of 2003 Danish Kroner today

kr.100 in 2003

kr.128.49 in 2021

The inflation rate in Denmark between 2003 and today has been 28.49%, which translates into a total increase of kr.28.49. This means that 100 kroner in 2003 are equivalent to 128.49 kroner in 2021. In other words, the purchasing power of kr.100 in 2003 equals kr.128.49 today. The average annual inflation rate has been 1.33%.

## Inflation timeline in Denmark (2003-2021)

The following chart depicts the equivalence of kr.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 (DKK) 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 (2003-2021) 28.45%
Total Inflation* 28.49%
Annual inflation avg. (2003-2021) 1.4%
Annual inflation avg.* 1.33%
CPI 2003 80.5
CPI 2021 103.4
CPI today* 103.43
kr.1 in 2003 kr.1.28 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 kr.100 worth today. There are 18 years between 2003 and 2021 and the average inflation rate has been 1.3281%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = kr.100 * (1 + 0.01)18 = kr.128.45

#### 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 2003 was 80.5 and the CPI today is 103.43. Therefore,

Final value = Initial value *
CPI final/CPI initial
= kr.100 *
103.4/80.5
= kr.128.45

### Denmark inflation - Conversion table

Initial Value Equivalent value
kr.1 krone in 2003 kr.1.28 kroner today
kr.5 kroner in 2003 kr.6.42 kroner today
kr.10 kroner in 2003 kr.12.85 kroner today
kr.50 kroner in 2003 kr.64.24 kroner today
kr.100 kroner in 2003 kr.128.49 kroner today
kr.500 kroner in 2003 kr.642.44 kroner today
kr.1,000 kroner in 2003 kr.1,284.89 kroner today
kr.5,000 kroner in 2003 kr.6,424.44 kroner today
kr.10,000 kroner in 2003 kr.12,848.88 kroner today
kr.50,000 kroner in 2003 kr.64,244.41 kroner today
kr.100,000 kroner in 2003 kr.128,488.81 kroner today
kr.500,000 kroner in 2003 kr.642,444.07 kroner today
kr.1,000,000 kroner in 2003 kr.1,284,888.14 kroner today

Period Value
2003 100
2004 101.37
2005 102.61
2006 104.97
2007 106.83
2008 109.32
2009 111.93
2010 113.54
2011 116.77
2012 119.63
2013 122.11
2014 122.98
2015 123.48
2016 123.98
2017 124.6
2018 125.84
2019 126.83
2020 127.83
2021 128.45
Today 128.49