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Value of 1998 Indian Rupees today

$100 in 1998
$429.95 in 2022

The inflation rate in India between 1998 and today has been 329.95%, which translates into a total increase of $329.95. This means that 100 rupees in 1998 are equivalent to 429.95 rupees in 2022. In other words, the purchasing power of $100 in 1998 equals $429.95 today. The average annual inflation rate between these periods has been 6.27%.

Inflation timeline in India (1998 - 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 1998-2021 300.27%
Cumulative inflation 1998-today 329.95%
Avg. Annual inflation 1998-2021 6.22%
CPI 1998 33.59
CPI 2021 134.44
CPI 2022-07 (latest official data) 143.12
CPI today 144.41

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 1998 and 2021, use the corresponding CPI values:

Value2021
=Value1998 ×
CPI2021/CPI1998
=$ 100 ×
134.44/33.59
$400.27

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 144.41:

Valuetoday
=Value1998 ×
CPItoday/CPI1998
=$ 100 ×
144.41/33.59
$429.95

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 23 years between 1998 and 2021 and the average inflation rate was 6.2158%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=$100 × (1 + 0.062158)23
$400.27

India inflation - Conversion table

Initial Value Equivalent value
$1 rupee in 1998 $4 rupees in 2021
$5 rupees in 1998 $20.01 rupees in 2021
$10 rupees in 1998 $40.03 rupees in 2021
$50 rupees in 1998 $200.13 rupees in 2021
$100 rupees in 1998 $400.27 rupees in 2021
$500 rupees in 1998 $2,001.34 rupees in 2021
$1,000 rupees in 1998 $4,002.67 rupees in 2021
$5,000 rupees in 1998 $20,013.37 rupees in 2021
$10,000 rupees in 1998 $40,026.74 rupees in 2021
$50,000 rupees in 1998 $200,133.71 rupees in 2021
$100,000 rupees in 1998 $400,267.42 rupees in 2021
$500,000 rupees in 1998 $2,001,337.08 rupees in 2021
$1,000,000 rupees in 1998 $4,002,674.16 rupees in 2021
Cumulative inflation From 1998 329.95%
Avg. annual inflation From 1998 6.27%
CPI 1998 33.59
CPI today 144.41

Value of Rupee over time (by year)

Period Value
1998 100
1999 104.67
2000 108.87
2001 112.98
2002 117.84
2003 122.32
2004 126.93
2005 132.32
2006 139.99
2007 148.91
2008 161.34
2009 178.9
2010 200.35
2011 218.1
2012 238.41
2013 264.41
2014 281.21
2015 297.72
2016 312.43
2017 320.22
2018 335.78
2019 361.5
2020 381.61
2021 400.27
2022-07 426.1
Today 429.95

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: