# Value of 2002 Indian Rupees today

\$100 in 2002

\$296.82 in 2019

The inflation rate in India between 2002 and today has been 196.82%, which translates into a total increase of \$196.82. This means that 100 rupees in 2002 are equivalent to 296.82 rupees in 2019. In other words, the purchasing power of \$100 in 2002 equals \$296.82 today. The average annual inflation rate has been 6.23%.

## Inflation timeline in India (2002-2019)

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 (2002-2019) 196.09%
Total Inflation* 196.82%
Annual inflation avg. (2002-2019) 6.59%
Annual inflation avg.* 6.23%
CPI 2002 38.89
CPI 2019 115.14
CPI today* 115.43
\$1 in 2002 \$2.96 in 2019

* 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 in 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 17 years between 2002 and 2019 and the average inflation rate has been 6.2306%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = \$100 * (1 + 0.06)17 = \$296.09

#### 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 2002 was 38.89 and the CPI today is 115.43. Therefore,

Final value = Initial value *
CPI final/CPI initial
= \$100 *
115.14/38.89
= \$296.09

### India inflation - Conversion table

Initial Value Equivalent value
\$1 rupee in 2002 \$2.97 rupees today
\$5 rupees in 2002 \$14.84 rupees today
\$10 rupees in 2002 \$29.68 rupees today
\$50 rupees in 2002 \$148.41 rupees today
\$100 rupees in 2002 \$296.82 rupees today
\$500 rupees in 2002 \$1,484.1 rupees today
\$1,000 rupees in 2002 \$2,968.2 rupees today
\$5,000 rupees in 2002 \$14,841.01 rupees today
\$10,000 rupees in 2002 \$29,682.02 rupees today
\$50,000 rupees in 2002 \$148,410.12 rupees today
\$100,000 rupees in 2002 \$296,820.25 rupees today
\$500,000 rupees in 2002 \$1,484,101.24 rupees today
\$1,000,000 rupees in 2002 \$2,968,202.49 rupees today

Period Value
2002 100
2003 103.2
2004 107.04
2005 111.09
2006 117.27
2007 124.93
2008 131.81
2009 144.6
2010 166.24
2011 181.98
2012 193.78
2013 215.43
2014 235.1
2015 248.87
2016 264.61
2017 270.51
2018 281.33
2019 296.09
Today 296.82