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Value of 2003 Indian Rupees today

$100 in 2003
$371.59 in 2023

The inflation rate in India between 2003 and today has been 271.59%, which translates into a total increase of $271.59. This means that 100 rupees in 2003 are equivalent to 371.59 rupees in 2023. In other words, the purchasing power of $100 in 2003 equals $371.59 today. The average annual inflation rate between these periods has been 6.78%.

Inflation timeline in India (2003 - 2023)

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 2003-2022 246.54%
Cumulative inflation 2003-today 271.59%
Avg. Annual inflation 2003-2022 6.76%
CPI 2003 41.09
CPI 2022 142.37
CPI 2023-09 (latest official data) 151.49
CPI today 152.67

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 2003 and 2022, use the corresponding CPI values:

Value2022
=Value2003 ×
CPI2022/CPI2003
=$ 100 ×
142.37/41.09
$346.54

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 152.67:

Valuetoday
=Value2003 ×
CPItoday/CPI2003
=$ 100 ×
152.67/41.09
$371.59

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 19 years between 2003 and 2022 and the average inflation rate was 6.7598%. Therefore, we can resolve the formula like this:

Value2022
=PV × (1 + i)n
=$100 × (1 + 0.067598)19
$346.54

India inflation - Conversion table

Initial Value Equivalent value
$1 rupee in 2003 $3.47 rupees in 2022
$5 rupees in 2003 $17.33 rupees in 2022
$10 rupees in 2003 $34.65 rupees in 2022
$50 rupees in 2003 $173.27 rupees in 2022
$100 rupees in 2003 $346.54 rupees in 2022
$500 rupees in 2003 $1,732.68 rupees in 2022
$1,000 rupees in 2003 $3,465.36 rupees in 2022
$5,000 rupees in 2003 $17,326.8 rupees in 2022
$10,000 rupees in 2003 $34,653.61 rupees in 2022
$50,000 rupees in 2003 $173,268.04 rupees in 2022
$100,000 rupees in 2003 $346,536.07 rupees in 2022
$500,000 rupees in 2003 $1,732,680.36 rupees in 2022
$1,000,000 rupees in 2003 $3,465,360.73 rupees in 2022
Cumulative inflation From 2003 271.59%
Avg. annual inflation From 2003 6.78%
CPI 2003 41.09
CPI today 152.67

Value of Rupee over time (by year)

Period Value
2003 100
2004 103.77
2005 108.17
2006 114.44
2007 121.74
2008 131.9
2009 146.26
2010 163.79
2011 178.3
2012 194.9
2013 216.16
2014 229.9
2015 243.4
2016 255.42
2017 261.79
2018 274.51
2019 295.54
2020 311.97
2021 327.23
2022 346.54
2023-09 368.73
Today 371.59

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 | 2022 |

Other currencies: