# Value of 2004 Indian Rupees today

\$100 in 2004

\$315.16 in 2021

The inflation rate in India between 2004 and today has been 215.16%, which translates into a total increase of \$215.16. This means that 100 rupees in 2004 are equivalent to 315.16 rupees in 2021. In other words, the purchasing power of \$100 in 2004 equals \$315.16 today. The average annual inflation rate has been 6.59%.

## Inflation timeline in India (2004-2021)

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 (2004-2021) 214.45%
Total Inflation* 215.16%
Annual inflation avg. (2004-2021) 6.97%
Annual inflation avg.* 6.59%
CPI 2004 41.62
CPI 2021 130.89
CPI today* 131.18
\$1 in 2004 \$3.14 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 17 years between 2004 and 2021 and the average inflation rate has been 6.5851%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = \$100 * (1 + 0.07)17 = \$314.45

#### 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 2004 was 41.62 and the CPI today is 131.18. Therefore,

Final value = Initial value *
CPI final/CPI initial
= \$100 *
130.89/41.62
= \$314.45

### India inflation - Conversion table

Initial Value Equivalent value
\$1 rupee in 2004 \$3.15 rupees today
\$5 rupees in 2004 \$15.76 rupees today
\$10 rupees in 2004 \$31.52 rupees today
\$50 rupees in 2004 \$157.58 rupees today
\$100 rupees in 2004 \$315.16 rupees today
\$500 rupees in 2004 \$1,575.82 rupees today
\$1,000 rupees in 2004 \$3,151.63 rupees today
\$5,000 rupees in 2004 \$15,758.17 rupees today
\$10,000 rupees in 2004 \$31,516.34 rupees today
\$50,000 rupees in 2004 \$157,581.69 rupees today
\$100,000 rupees in 2004 \$315,163.38 rupees today
\$500,000 rupees in 2004 \$1,575,816.9 rupees today
\$1,000,000 rupees in 2004 \$3,151,633.8 rupees today

Period Value
2004 100
2005 103.78
2006 109.56
2007 116.71
2008 123.15
2009 135.09
2010 155.31
2011 170.02
2012 181.05
2013 201.26
2014 219.64
2015 232.51
2016 247.21
2017 252.73
2018 262.84
2019 276.62
2020 303.27
2021 314.45
Today 315.16