Value of 1988 Indian Rupees today

$100 in 1988

$912.42 in 2019

The inflation rate in India between 1988 and today has been 812.42%, which translates into a total increase of $812.42. This means that 100 rupees in 1988 are equivalent to 912.42 rupees in 2019. In other words, the purchasing power of $100 in 1988 equals $912.42 today. The average annual inflation rate has been 7.15%.

Inflation timeline in India (1988-2019)

The following chart ilustrates the equivalence of $100 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 (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 (1988-2019) 810.03%
Total Inflation* 812.42%
Annual inflation avg. (1988-2019) 7.38%
Annual inflation avg.* 7.15%
CPI 1988 12.65
CPI 2019 115.14
CPI today* 115.44
$1 in 1988 $9.1 in 2019

* 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 $100 worth today. There are 31 years between 1988 and 2019 and the average inflation rate has been 7.1534%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = $100 * (1 + 0.07)31 = $910.03

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 1988 was 12.65 and the CPI today is 115.44. Therefore,

Final value = Initial value *
CPI final/CPI initial
= $100 *
115.14/12.65
= $910.03

India inflation - Conversion table

Initial Value Equivalent value
$1 rupee in 1988 $9.12 rupees today
$5 rupees in 1988 $45.62 rupees today
$10 rupees in 1988 $91.24 rupees today
$50 rupees in 1988 $456.21 rupees today
$100 rupees in 1988 $912.42 rupees today
$500 rupees in 1988 $4,562.1 rupees today
$1,000 rupees in 1988 $9,124.21 rupees today
$5,000 rupees in 1988 $45,621.04 rupees today
$10,000 rupees in 1988 $91,242.07 rupees today
$50,000 rupees in 1988 $456,210.35 rupees today
$100,000 rupees in 1988 $912,420.71 rupees today
$500,000 rupees in 1988 $4,562,103.53 rupees today
$1,000,000 rupees in 1988 $9,124,207.06 rupees today

Value of Rupee in time (by year)

Period Value
1988 100
1989 108.79
1990 114.68
1991 130.41
1992 147.45
1993 159.25
1994 173.01
1995 189.39
1996 207.74
1997 229.37
1998 243.79
1999 281.14
2000 282.45
2001 292.28
2002 307.35
2003 317.18
2004 328.98
2005 341.43
2006 360.44
2007 383.97
2008 405.13
2009 444.44
2010 510.95
2011 559.32
2012 595.6
2013 662.12
2014 722.59
2015 764.91
2016 813.29
2017 831.43
2018 864.68
2019 910.03
Today 912.42