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Value of 1988 Indian Rupees today

$100 in 1988
$1,056.7 in 2022

The inflation rate in India between 1988 and today has been 956.7%, which translates into a total increase of $956.7. This means that 100 rupees in 1988 are equivalent to 1,056.7 rupees in 2022. In other words, the purchasing power of $100 in 1988 equals $1,056.7 today. The average annual inflation rate between these periods has been 7.18%.

Inflation timeline in India (1988 - 2022)

The following chart depicts the equivalence of $100 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 (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 extrapolated from the latest 12-month rolling average official data.

The following table contains relevant indicators:

Indicator Value
Cumulative inflation 1988-2021 915.77%
Cumulative inflation 1988-today 956.7%
Avg. Annual inflation 1988-2021 7.28%
CPI 1988 13.24
CPI 2021 134.44
CPI 2022-03 (latest official data) 138.82
CPI today 139.86

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 1988 and 2021, use the corresponding CPI values:

Value2021
=Value1988 ×
CPI2021/CPI1988
=$ 100 ×
134.44/13.24
$1,015.77

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 139.86:

Valuetoday
=Value1988 ×
CPItoday/CPI1988
=$ 100 ×
139.86/13.24
$1,056.7

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 $100 worth today. There are 33 years between 1988 and 2021 and the average inflation rate was 7.2776%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=$100 × (1 + 0.072776)33
$1,015.77

India inflation - Conversion table

Initial Value Equivalent value
$1 rupee in 1988 $10.16 rupees in 2021
$5 rupees in 1988 $50.79 rupees in 2021
$10 rupees in 1988 $101.58 rupees in 2021
$50 rupees in 1988 $507.88 rupees in 2021
$100 rupees in 1988 $1,015.77 rupees in 2021
$500 rupees in 1988 $5,078.85 rupees in 2021
$1,000 rupees in 1988 $10,157.7 rupees in 2021
$5,000 rupees in 1988 $50,788.48 rupees in 2021
$10,000 rupees in 1988 $101,576.97 rupees in 2021
$50,000 rupees in 1988 $507,884.85 rupees in 2021
$100,000 rupees in 1988 $1,015,769.7 rupees in 2021
$500,000 rupees in 1988 $5,078,848.49 rupees in 2021
$1,000,000 rupees in 1988 $10,157,696.98 rupees in 2021
Cumulative inflation From 1988 956.7%
Avg. annual inflation From 1988 7.18%
CPI 1988 13.24
CPI today 139.86

Value of Rupee over time (by year)

Period Value
1988 100
1989 107.07
1990 116.68
1991 132.86
1992 148.53
1993 157.92
1994 174.11
1995 191.91
1996 209.14
1997 224.12
1998 253.77
1999 265.62
2000 276.27
2001 286.71
2002 299.04
2003 310.42
2004 322.11
2005 335.79
2006 355.25
2007 377.89
2008 409.44
2009 454
2010 508.43
2011 553.47
2012 605.01
2013 671.01
2014 713.64
2015 755.54
2016 792.87
2017 812.62
2018 852.12
2019 917.39
2020 968.41
2021 1,015.77
2022-03 1,048.86
Today 1,056.7

All available years

Today's value of indian rupees by year:

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 |

Other currencies: