Value of 1965 Icelandic Kronur today

kr100 in 1965

kr189,454.69 in 2018

The inflation rate in Iceland between 1965 and today has been 189,354.69%, which translates into a total increase of kr189,354.69. This means that 100 kronur in 1965 are equivalent to 189,454.69 kronur in 2018. In other words, the purchasing power of kr100 in 1965 equals kr189,454.69 today. The average annual inflation rate has been 17.83%.

Inflation timeline in Iceland (1965-2018)

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 (1965-2018) 183,865.29%
Total Inflation* 189,354.69%
Annual inflation avg. (1965-2018) 18.18%
Annual inflation avg.* 17.83%
CPI 1965 0.06
CPI 2018 104.48
CPI today* 107.6
kr1 in 1965 kr1,839.65 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 53 years between 1965 and 2018 and the average inflation rate has been 17.8284%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = kr100 * (1 + 0.18)53 = kr183,965.29

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 1965 was 0.06 and the CPI today is 107.6. Therefore,

Final value = Initial value *
CPI final/CPI initial
= kr100 *
104.48/0.06
= kr183,965.29

Iceland inflation - Conversion table

Initial Value Equivalent value
kr1 krona in 1965 kr1,894.55 kronur today
kr5 kronur in 1965 kr9,472.73 kronur today
kr10 kronur in 1965 kr18,945.47 kronur today
kr50 kronur in 1965 kr94,727.34 kronur today
kr100 kronur in 1965 kr189,454.69 kronur today
kr500 kronur in 1965 kr947,273.43 kronur today
kr1,000 kronur in 1965 kr1,894,546.86 kronur today
kr5,000 kronur in 1965 kr9,472,734.3 kronur today
kr10,000 kronur in 1965 kr18,945,468.6 kronur today
kr50,000 kronur in 1965 kr94,727,343 kronur today
kr100,000 kronur in 1965 kr189,454,686.01 kronur today
kr500,000 kronur in 1965 kr947,273,430.05 kronur today
kr1,000,000 kronur in 1965 kr1,894,546,860.1 kronur today

Value of Krona in time (by year)

Period Value
1965 100
1966 109.09
1967 118.18
1968 126.67
1977 864.36
1978 1,152.49
1979 1,605.25
1980 2,510.77
1981 3,910.22
1982 5,844.75
1983 9,384.53
1984 16,546.4
1985 19,674.57
1986 26,754.13
1987 30,376.23
1988 37,785.07
1989 45,564.33
1990 57,048.03
1991 61,164.05
1992 65,773.99
1993 66,736.3
1994 69,893.24
1995 70,260.32
1996 71,655.24
1997 73,123.58
1998 74,665.35
1999 75,546.36
2000 79,731.14
2001 83,108.35
2002 90,283.22
2003 92,081.21
2004 94,634.85
2005 98,305.72
2006 102,343.67
2007 109,538.56
2008 115,925.86
2009 136,958.2
2010 147,210.12
2011 150,865.96
2012 158,782.65
2013 165,456.13
2014 172,306.33
2015 173,730.97
2016 177,231.47
2017 180,586.76
2018 183,965.29
Today 189,454.69