Rp

Value of 1998 Indonesian Rupiahs today

Rp100 in 1998
Rp471.6 in 2022

The inflation rate in Indonesia between 1998 and today has been 371.6%, which translates into a total increase of Rp371.6. This means that 100 rupiahs in 1998 are equivalent to 471.6 rupiahs in 2022. In other words, the purchasing power of Rp100 in 1998 equals Rp471.6 today. The average annual inflation rate between these periods has been 6.68%.

Inflation timeline in Indonesia (1998 - 2022)

The following chart depicts the equivalence of Rp100 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 (IDR) 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 344.12%
Cumulative inflation 1998-today 371.6%
Avg. Annual inflation 1998-2021 6.7%
CPI 1998 26.63
CPI 2021 118.28
CPI 2022-10 (latest official data) 125.17
CPI today 125.6

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
=Rp 100 ×
118.28/26.63
Rp444.12

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 125.6:

Valuetoday
=Value1998 ×
CPItoday/CPI1998
=Rp 100 ×
125.6/26.63
Rp471.6

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 Rp100 worth today. There are 23 years between 1998 and 2021 and the average inflation rate was 6.697%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=Rp100 × (1 + 0.06697)23
Rp444.12

Indonesia inflation - Conversion table

Initial Value Equivalent value
Rp1 rupiah in 1998 Rp4.44 rupiahs in 2021
Rp5 rupiahs in 1998 Rp22.21 rupiahs in 2021
Rp10 rupiahs in 1998 Rp44.41 rupiahs in 2021
Rp50 rupiahs in 1998 Rp222.06 rupiahs in 2021
Rp100 rupiahs in 1998 Rp444.12 rupiahs in 2021
Rp500 rupiahs in 1998 Rp2,220.59 rupiahs in 2021
Rp1,000 rupiahs in 1998 Rp4,441.18 rupiahs in 2021
Rp5,000 rupiahs in 1998 Rp22,205.92 rupiahs in 2021
Rp10,000 rupiahs in 1998 Rp44,411.84 rupiahs in 2021
Rp50,000 rupiahs in 1998 Rp222,059.18 rupiahs in 2021
Rp100,000 rupiahs in 1998 Rp444,118.36 rupiahs in 2021
Rp500,000 rupiahs in 1998 Rp2,220,591.79 rupiahs in 2021
Rp1,000,000 rupiahs in 1998 Rp4,441,183.58 rupiahs in 2021
Cumulative inflation From 1998 371.6%
Avg. annual inflation From 1998 6.68%
CPI 1998 26.63
CPI today 125.6

Value of Rupiah over time (by year)

Period Value
1998 100
1999 120.48
2000 124.92
2001 139.29
2002 155.86
2003 166.4
2004 176.49
2005 194.93
2006 220.49
2007 234.61
2008 258.61
2009 269.95
2010 283.81
2011 299.01
2012 311.81
2013 331.8
2014 353.02
2015 375.48
2016 388.72
2017 403.53
2018 416.43
2019 429.05
2020 437.3
2021 444.12
2022-10 469.98
Today 471.6

All available years

Today's value of indonesian rupiahs by year:

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: