Value of 1997 Indian Rupees today

₹100 in 1997
₹531.17 in 2024

The inflation rate in India between 1997 and today has been 431.17%, which translates into a total increase of ₹431.17. This means that 100 rupees in 1997 are equivalent to 531.17 rupees in 2024. In other words, the purchasing power of ₹100 in 1997 equals ₹531.17 today. The average annual inflation rate between these periods has been 6.38%.

Inflation timeline in India (1997 - 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 1997-2023 406.62%
Cumulative inflation 1997-today 431.17%
Avg. Annual inflation 1997-2023 6.44%
CPI 1997 29.66
CPI 2023 150.28
CPI 2024-08 (latest official data) 157.11
CPI today 157.56

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 1997 and 2023, use the corresponding CPI values:

Value2023
=Value1997 ×
CPI2023/CPI1997
=₹ 100 ×
150.28/29.66
₹506.62

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 157.56:

Valuetoday
=Value1997 ×
CPItoday/CPI1997
=₹ 100 ×
157.56/29.66
₹531.17

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 26 years between 1997 and 2023 and the average inflation rate was 6.4396%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=₹100 × (1 + 0.064396)26
₹506.62

India inflation - Conversion table

Initial Value Equivalent value
₹1 rupee in 1997 ₹5.07 rupees in 2023
₹5 rupees in 1997 ₹25.33 rupees in 2023
₹10 rupees in 1997 ₹50.66 rupees in 2023
₹50 rupees in 1997 ₹253.31 rupees in 2023
₹100 rupees in 1997 ₹506.62 rupees in 2023
₹500 rupees in 1997 ₹2,533.09 rupees in 2023
₹1,000 rupees in 1997 ₹5,066.18 rupees in 2023
₹5,000 rupees in 1997 ₹25,330.9 rupees in 2023
₹10,000 rupees in 1997 ₹50,661.79 rupees in 2023
₹50,000 rupees in 1997 ₹253,308.96 rupees in 2023
₹100,000 rupees in 1997 ₹506,617.92 rupees in 2023
₹500,000 rupees in 1997 ₹2,533,089.6 rupees in 2023
₹1,000,000 rupees in 1997 ₹5,066,179.2 rupees in 2023
Cumulative inflation From 1997 431.17%
Avg. annual inflation From 1997 6.38%
CPI 1997 29.66
CPI today 157.56

Value of Rupee over time (by year)

Period Value
1997 100
1998 113.23
1999 118.52
2000 123.27
2001 127.93
2002 133.43
2003 138.5
2004 143.72
2005 149.83
2006 158.51
2007 168.61
2008 182.69
2009 202.57
2010 226.86
2011 246.95
2012 269.95
2013 299.4
2014 318.42
2015 337.12
2016 353.77
2017 362.58
2018 380.21
2019 409.33
2020 432.1
2021 453.23
2022 479.97
2023 506.62
2024-08 529.65
Today 531.17

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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