# Value of 2003 Indian Rupees today

\$100 in 2003

\$326.72 in 2021

The inflation rate in India between 2003 and today has been 226.72%, which translates into a total increase of \$226.72. This means that 100 rupees in 2003 are equivalent to 326.72 rupees in 2021. In other words, the purchasing power of \$100 in 2003 equals \$326.72 today. The average annual inflation rate has been 6.43%.

## Inflation timeline in India (2003-2021)

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 (2003-2021) 226.15%
Total Inflation* 226.72%
Annual inflation avg. (2003-2021) 6.79%
Annual inflation avg.* 6.43%
CPI 2003 40.13
CPI 2021 130.89
CPI today* 131.12
\$1 in 2003 \$3.26 in 2021

* 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 18 years between 2003 and 2021 and the average inflation rate has been 6.4294%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = \$100 * (1 + 0.06)18 = \$326.15

#### 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 2003 was 40.13 and the CPI today is 131.12. Therefore,

Final value = Initial value *
CPI final/CPI initial
= \$100 *
130.89/40.13
= \$326.15

### India inflation - Conversion table

Initial Value Equivalent value
\$1 rupee in 2003 \$3.27 rupees today
\$5 rupees in 2003 \$16.34 rupees today
\$10 rupees in 2003 \$32.67 rupees today
\$50 rupees in 2003 \$163.36 rupees today
\$100 rupees in 2003 \$326.72 rupees today
\$500 rupees in 2003 \$1,633.59 rupees today
\$1,000 rupees in 2003 \$3,267.17 rupees today
\$5,000 rupees in 2003 \$16,335.87 rupees today
\$10,000 rupees in 2003 \$32,671.73 rupees today
\$50,000 rupees in 2003 \$163,358.67 rupees today
\$100,000 rupees in 2003 \$326,717.35 rupees today
\$500,000 rupees in 2003 \$1,633,586.74 rupees today
\$1,000,000 rupees in 2003 \$3,267,173.48 rupees today

Period Value
2003 100
2004 103.72
2005 107.64
2006 113.64
2007 121.06
2008 127.73
2009 140.12
2010 161.09
2011 176.34
2012 187.78
2013 208.75
2014 227.81
2015 241.16
2016 256.41
2017 262.13
2018 272.61
2019 286.91
2020 314.55
2021 326.15
Today 326.72