# Value of 1960 Indian Rupees today

\$2,000,000 in 1960

\$153,897,086.4 in 2021

The inflation rate in India between 1960 and today has been 7,594.85%, which translates into a total increase of \$151,897,086.4. This means that 2,000,000 rupees in 1960 are equivalent to 153,897,086.4 rupees in 2021. In other words, the purchasing power of \$2,000,000 in 1960 equals \$153,897,086.4 today. The average annual inflation rate has been 7.26%.

## Inflation timeline in India (1960-2021)

The following chart depicts the equivalence of \$2,000,000 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 (INR) 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 (1960-2021) 7,579.13%
Total Inflation* 7,594.85%
Annual inflation avg. (1960-2021) 7.38%
Annual inflation avg.* 7.26%
CPI 1960 1.7
CPI 2021 130.89
CPI today* 131.16
\$1 in 1960 \$76.79 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 \$2,000,000 worth today. There are 61 years between 1960 and 2021 and the average inflation rate has been 7.2562%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = \$2000000 * (1 + 0.07)61 = \$153,582,531.67

#### 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 1960 was 1.7 and the CPI today is 131.16. Therefore,

Final value = Initial value *
CPI final/CPI initial
= \$2,000,000 *
130.89/1.7
= \$153,582,531.67

### India inflation - Conversion table

Initial Value Equivalent value
\$1 rupee in 1960 \$76.95 rupees today
\$5 rupees in 1960 \$384.74 rupees today
\$10 rupees in 1960 \$769.49 rupees today
\$50 rupees in 1960 \$3,847.43 rupees today
\$100 rupees in 1960 \$7,694.85 rupees today
\$500 rupees in 1960 \$38,474.27 rupees today
\$1,000 rupees in 1960 \$76,948.54 rupees today
\$5,000 rupees in 1960 \$384,742.72 rupees today
\$10,000 rupees in 1960 \$769,485.43 rupees today
\$50,000 rupees in 1960 \$3,847,427.16 rupees today
\$100,000 rupees in 1960 \$7,694,854.32 rupees today
\$500,000 rupees in 1960 \$38,474,271.6 rupees today
\$1,000,000 rupees in 1960 \$76,948,543.2 rupees today

#### Value of Rupee over time (by year)

Period Value
1960 2,000,000
1961 2,000,000
1962 2,064,101.7
1963 2,115,384.23
1964 2,260,683.76
1965 2,645,298.65
1966 2,790,598.18
1967 3,179,486.52
1968 3,452,990.62
1969 3,376,067.41
1970 3,495,726.26
1971 3,670,939.92
1972 3,850,427.02
1973 4,145,298.36
1974 5,132,477.43
1975 6,435,896.25
1976 6,038,459.85
1977 6,038,459.85
1978 6,512,819.46
1979 6,611,109.91
1980 7,384,613.13
1981 8,055,553.63
1982 9,081,194.9
1983 9,811,963.66
1984 11,034,185.81
1985 11,606,834.7
1986 12,435,893.9
1987 13,581,194.02
1988 14,846,155.34
1989 16,150,565.66
1990 17,026,199.79
1991 19,361,224.16
1992 21,890,829.98
1993 23,642,098.26
1994 25,685,232.85
1995 28,117,553.81
1996 30,841,741.08
1997 34,052,399.59
1998 36,192,830.77
1999 41,738,513.65
2000 41,933,095.1
2001 43,392,485.33
2002 45,630,213.1
2003 47,089,603.33
2004 48,840,871.61
2005 50,689,436.48
2006 53,510,908.61
2007 57,004,457.08
2008 60,146,425.98
2009 65,981,534.53
2010 75,856,317.38
2011 83,037,984.04
2012 88,424,228.17
2013 98,299,022.75
2014 107,276,100.2
2015 113,560,049.73
2016 120,741,763.32
2017 123,434,785.64
2018 128,372,247.47
2019 135,105,096.63
2020 148,121,860.11
2021 153,582,531.67
Today 153,897,086.4