Value of 1994 Indian Rupees today

₹100 in 1994
₹671.99 in 2024

The inflation rate in India between 1994 and today has been 571.99%, which translates into a total increase of ₹571.99. This means that 100 rupees in 1994 are equivalent to 671.99 rupees in 2024. In other words, the purchasing power of ₹100 in 1994 equals ₹671.99 today. The average annual inflation rate between these periods has been 6.56%.

Inflation timeline in India (1994 - 2024)

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 1994-2023 552.15%
Cumulative inflation 1994-today 571.99%
Avg. Annual inflation 1994-2023 6.68%
CPI 1994 23.04
CPI 2023 150.28
CPI 2024-05 (latest official data) 154.14
CPI today 154.85

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 1994 and 2023, use the corresponding CPI values:

Value2023
=Value1994 ×
CPI2023/CPI1994
=₹ 100 ×
150.28/23.04
₹652.15

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 154.85:

Valuetoday
=Value1994 ×
CPItoday/CPI1994
=₹ 100 ×
154.85/23.04
₹671.99

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 29 years between 1994 and 2023 and the average inflation rate was 6.6795%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=₹100 × (1 + 0.066795)29
₹652.15

India inflation - Conversion table

Initial Value Equivalent value
₹1 rupee in 1994 ₹6.52 rupees in 2023
₹5 rupees in 1994 ₹32.61 rupees in 2023
₹10 rupees in 1994 ₹65.21 rupees in 2023
₹50 rupees in 1994 ₹326.07 rupees in 2023
₹100 rupees in 1994 ₹652.15 rupees in 2023
₹500 rupees in 1994 ₹3,260.73 rupees in 2023
₹1,000 rupees in 1994 ₹6,521.47 rupees in 2023
₹5,000 rupees in 1994 ₹32,607.35 rupees in 2023
₹10,000 rupees in 1994 ₹65,214.7 rupees in 2023
₹50,000 rupees in 1994 ₹326,073.49 rupees in 2023
₹100,000 rupees in 1994 ₹652,146.99 rupees in 2023
₹500,000 rupees in 1994 ₹3,260,734.95 rupees in 2023
₹1,000,000 rupees in 1994 ₹6,521,469.89 rupees in 2023
Cumulative inflation From 1994 571.99%
Avg. annual inflation From 1994 6.56%
CPI 1994 23.04
CPI today 154.85

Value of Rupee over time (by year)

Period Value
1994 100
1995 110.22
1996 120.12
1997 128.73
1998 145.76
1999 152.56
2000 158.68
2001 164.68
2002 171.75
2003 178.29
2004 185.01
2005 192.86
2006 204.04
2007 217.05
2008 235.17
2009 260.76
2010 292.02
2011 317.89
2012 347.5
2013 385.4
2014 409.88
2015 433.95
2016 455.4
2017 466.74
2018 489.43
2019 526.91
2020 556.22
2021 583.42
2022 617.84
2023 652.15
2024-05 668.88
Today 671.99

All available years

Today's value of indian rupees by year:

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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