Value of 1959 Icelandic Kronur today

kr100 in 1959

kr286,789.19 in 2018

The inflation rate in Iceland between 1959 and today has been 286,689.19%, which translates into a total increase of kr286,689.19. This means that 100 kronur in 1959 are equivalent to 286,789.19 kronur in 2018. In other words, the purchasing power of kr100 in 1959 equals kr286,789.19 today. The average annual inflation rate has been 16.54%.

Inflation timeline in Iceland (1959-2018)

The following chart ilustrates the equivalence of kr100 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 (ISK) 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 (1959-2018) 278,379.55%
Total Inflation* 286,689.19%
Annual inflation avg. (1959-2018) 16.83%
Annual inflation avg.* 16.54%
CPI 1959 0.04
CPI 2018 104.48
CPI today* 107.6
kr1 in 1959 kr2,784.8 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 kr100 worth today. There are 59 years between 1959 and 2018 and the average inflation rate has been 16.5444%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = kr100 * (1 + 0.17)59 = kr278,479.55

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 1959 was 0.04 and the CPI today is 107.6. Therefore,

Final value = Initial value *
CPI final/CPI initial
= kr100 *
104.48/0.04
= kr278,479.55

Iceland inflation - Conversion table

Initial Value Equivalent value
kr1 krona in 1959 kr2,867.89 kronur today
kr5 kronur in 1959 kr14,339.46 kronur today
kr10 kronur in 1959 kr28,678.92 kronur today
kr50 kronur in 1959 kr143,394.59 kronur today
kr100 kronur in 1959 kr286,789.19 kronur today
kr500 kronur in 1959 kr1,433,945.93 kronur today
kr1,000 kronur in 1959 kr2,867,891.86 kronur today
kr5,000 kronur in 1959 kr14,339,459.32 kronur today
kr10,000 kronur in 1959 kr28,678,918.65 kronur today
kr50,000 kronur in 1959 kr143,394,593.23 kronur today
kr100,000 kronur in 1959 kr286,789,186.45 kronur today
kr500,000 kronur in 1959 kr1,433,945,932.26 kronur today
kr1,000,000 kronur in 1959 kr2,867,891,864.51 kronur today

Value of Krona in time (by year)

Period Value
1959 100
1960 91.74
1961 94.5
1962 105.5
1963 115.6
1964 133.94
1965 151.38
1966 165.14
1967 178.9
1968 191.74
1977 1,308.44
1978 1,744.59
1979 2,429.96
1980 3,800.71
1981 5,919.14
1982 8,847.56
1983 14,205.93
1984 25,047.3
1985 29,782.61
1986 40,499.37
1987 45,982.36
1988 57,197.57
1989 68,973.53
1990 86,357.1
1991 92,587.77
1992 99,566.13
1993 101,022.83
1994 105,801.69
1995 106,357.36
1996 108,468.94
1997 110,691.66
1998 113,025.53
1999 114,359.16
2000 120,693.92
2001 125,806.21
2002 136,667.25
2003 139,388.98
2004 143,254.58
2005 148,811.4
2006 154,923.89
2007 165,815.24
2008 175,484.09
2009 207,322.03
2010 222,841
2011 228,375.06
2012 240,359.04
2013 250,461.09
2014 260,830.67
2015 262,987.24
2016 268,286.16
2017 273,365.26
2018 278,479.55
Today 286,789.19