Value of 1990 Icelandic Kronur today

kr100 in 1990

kr331.27 in 2018

The inflation rate in Iceland between 1990 and today has been 231.27%, which translates into a total increase of kr231.27. This means that 100 kronur in 1990 are equivalent to 331.27 kronur in 2018. In other words, the purchasing power of kr100 in 1990 equals kr331.27 today. The average annual inflation rate has been 4.22%.

Inflation timeline in Iceland (1990-2018)

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 (1990-2018) 222.47%
Total Inflation* 231.27%
Annual inflation avg. (1990-2018) 4.27%
Annual inflation avg.* 4.22%
CPI 1990 32.4
CPI 2018 104.48
CPI today* 107.33
kr1 in 1990 kr3.22 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 28 years between 1990 and 2018 and the average inflation rate has been 4.2167%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = kr100 * (1 + 0.04)28 = kr322.47

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 1990 was 32.4 and the CPI today is 107.33. Therefore,

Final value = Initial value *
CPI final/CPI initial
= kr100 *
104.48/32.4
= kr322.47

Iceland inflation - Conversion table

Initial Value Equivalent value
kr1 krona in 1990 kr3.31 kronur today
kr5 kronur in 1990 kr16.56 kronur today
kr10 kronur in 1990 kr33.13 kronur today
kr50 kronur in 1990 kr165.64 kronur today
kr100 kronur in 1990 kr331.27 kronur today
kr500 kronur in 1990 kr1,656.37 kronur today
kr1,000 kronur in 1990 kr3,312.74 kronur today
kr5,000 kronur in 1990 kr16,563.7 kronur today
kr10,000 kronur in 1990 kr33,127.4 kronur today
kr50,000 kronur in 1990 kr165,637.02 kronur today
kr100,000 kronur in 1990 kr331,274.03 kronur today
kr500,000 kronur in 1990 kr1,656,370.17 kronur today
kr1,000,000 kronur in 1990 kr3,312,740.35 kronur today

Value of Krona in time (by year)

Period Value
1990 100
1991 107.22
1992 115.3
1993 116.98
1994 122.52
1995 123.16
1996 125.61
1997 128.18
1998 130.88
1999 132.43
2000 139.76
2001 145.68
2002 158.26
2003 161.41
2004 165.89
2005 172.32
2006 179.4
2007 192.01
2008 203.21
2009 240.08
2010 258.05
2011 264.45
2012 278.33
2013 290.03
2014 302.04
2015 304.53
2016 310.67
2017 316.55
2018 322.47
Today 331.27