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Value of 1990 Icelandic Kronur today

kr100 in 1990
kr433.71 in 2024

The inflation rate in Iceland between 1990 and today has been 333.71%, which translates into a total increase of kr333.71. This means that 100 kronur in 1990 are equivalent to 433.71 kronur in 2024. In other words, the purchasing power of kr100 in 1990 equals kr433.71 today. The average annual inflation rate between these periods has been 4.41%.

Inflation timeline in Iceland (1990 - 2024)

The following chart depicts the equivalence of kr100 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 (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 extrapolated from the latest 12-month rolling average official data.

The following table contains relevant indicators:

Indicator Value
Cumulative inflation 1990-2023 308.46%
Cumulative inflation 1990-today 333.71%
Avg. Annual inflation 1990-2023 4.36%
CPI 1990 33.9
CPI 2023 138.48
CPI 2024-05 (latest official data) 146.55
CPI today 147.05

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 1990 and 2023, use the corresponding CPI values:

Value2023
=Value1990 ×
CPI2023/CPI1990
=kr 100 ×
138.48/33.9
kr408.46

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 147.05:

Valuetoday
=Value1990 ×
CPItoday/CPI1990
=kr 100 ×
147.05/33.9
kr433.71

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 kr100 worth today. There are 33 years between 1990 and 2023 and the average inflation rate was 4.3566%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=kr100 × (1 + 0.043566)33
kr408.46

Iceland inflation - Conversion table

Initial Value Equivalent value
kr1 krona in 1990 kr4.08 kronur in 2023
kr5 kronur in 1990 kr20.42 kronur in 2023
kr10 kronur in 1990 kr40.85 kronur in 2023
kr50 kronur in 1990 kr204.23 kronur in 2023
kr100 kronur in 1990 kr408.46 kronur in 2023
kr500 kronur in 1990 kr2,042.31 kronur in 2023
kr1,000 kronur in 1990 kr4,084.62 kronur in 2023
kr5,000 kronur in 1990 kr20,423.12 kronur in 2023
kr10,000 kronur in 1990 kr40,846.25 kronur in 2023
kr50,000 kronur in 1990 kr204,231.25 kronur in 2023
kr100,000 kronur in 1990 kr408,462.5 kronur in 2023
kr500,000 kronur in 1990 kr2,042,312.49 kronur in 2023
kr1,000,000 kronur in 1990 kr4,084,624.98 kronur in 2023
Cumulative inflation From 1990 333.71%
Avg. annual inflation From 1990 4.41%
CPI 1990 33.9
CPI today 147.05

Value of Krona over time (by year)

Period Value
1990 100
1991 106.81
1992 111.03
1993 115.51
1994 117.31
1995 119.24
1996 121.94
1997 124.15
1998 126.21
1999 130.29
2000 136.99
2001 145.76
2002 153.33
2003 156.49
2004 161.43
2005 167.86
2006 179.09
2007 188.14
2008 212.02
2009 237.47
2010 250.28
2011 260.3
2012 273.8
2013 284.4
2014 290.21
2015 294.95
2016 299.96
2017 305.24
2018 313.43
2019 322.87
2020 332.07
2021 346.83
2022 375.64
2023 408.46
2024-05 432.24
Today 433.71

All available years

Today's value of icelandic kronur by year:

1955 | 1956 | 1957 | 1958 | 1959 | 1960 | 1961 | 1962 | 1963 | 1964 | 1965 | 1966 | 1967 | 1968 | 1969 | 1970 | 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 |

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