# Value of 1998 Indian Rupees today

\$100 in 1998

\$410.79 in 2020

The inflation rate in India between 1998 and today has been 310.79%, which translates into a total increase of \$310.79. This means that 100 rupees in 1998 are equivalent to 410.79 rupees in 2020. In other words, the purchasing power of \$100 in 1998 equals \$410.79 today. The average annual inflation rate has been 6.34%.

## Inflation timeline in India (1998-2020)

The following chart depicts the equivalence of \$100 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 (1998-2020) 309.26%
Total Inflation* 310.79%
Annual inflation avg. (1998-2020) 6.61%
Annual inflation avg.* 6.34%
CPI 1998 30.84
CPI 2020 126.24
CPI today* 126.71
\$1 in 1998 \$4.09 in 2020

* 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 \$100 worth today. There are 22 years between 1998 and 2020 and the average inflation rate has been 6.3357%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = \$100 * (1 + 0.06)22 = \$409.26

#### 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 1998 was 30.84 and the CPI today is 126.71. Therefore,

Final value = Initial value *
CPI final/CPI initial
= \$100 *
126.24/30.84
= \$409.26

### India inflation - Conversion table

Initial Value Equivalent value
\$1 rupee in 1998 \$4.11 rupees today
\$5 rupees in 1998 \$20.54 rupees today
\$10 rupees in 1998 \$41.08 rupees today
\$50 rupees in 1998 \$205.4 rupees today
\$100 rupees in 1998 \$410.79 rupees today
\$500 rupees in 1998 \$2,053.95 rupees today
\$1,000 rupees in 1998 \$4,107.91 rupees today
\$5,000 rupees in 1998 \$20,539.54 rupees today
\$10,000 rupees in 1998 \$41,079.09 rupees today
\$50,000 rupees in 1998 \$205,395.43 rupees today
\$100,000 rupees in 1998 \$410,790.85 rupees today
\$500,000 rupees in 1998 \$2,053,954.27 rupees today
\$1,000,000 rupees in 1998 \$4,107,908.53 rupees today

Period Value
1998 100
1999 115.32
2000 115.86
2001 119.89
2002 126.08
2003 130.11
2004 134.95
2005 140.05
2006 147.85
2007 157.5
2008 166.18
2009 182.31
2010 209.59
2011 229.43
2012 244.31
2013 271.6
2014 296.4
2015 313.76
2016 333.61
2017 341.05
2018 354.69
2019 373.29
2020 409.26
Today 410.79