Rp

Value of 1998 Indonesian Rupiahs today

Rp100 in 1998
Rp492.79 in 2024

The inflation rate in Indonesia between 1998 and today has been 392.79%, which translates into a total increase of Rp392.79. This means that 100 rupiahs in 1998 are equivalent to 492.79 rupiahs in 2024. In other words, the purchasing power of Rp100 in 1998 equals Rp492.79 today. The average annual inflation rate between these periods has been 6.33%.

Inflation timeline in Indonesia (1998 - 2024)

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 1998-2023 379.79%
Cumulative inflation 1998-today 392.79%
Avg. Annual inflation 1998-2023 6.47%
CPI 1998 26.63
CPI 2023 127.78
CPI 2024-04 (latest official data) 130.94
CPI today 131.24

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 2023, use the corresponding CPI values:

Value2023
=Value1998 ×
CPI2023/CPI1998
=Rp 100 ×
127.78/26.63
Rp479.79

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 131.24:

Valuetoday
=Value1998 ×
CPItoday/CPI1998
=Rp 100 ×
131.24/26.63
Rp492.79

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 25 years between 1998 and 2023 and the average inflation rate was 6.4736%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=Rp100 × (1 + 0.064736)25
Rp479.79

Indonesia inflation - Conversion table

Initial Value Equivalent value
Rp1 rupiah in 1998 Rp4.8 rupiahs in 2023
Rp5 rupiahs in 1998 Rp23.99 rupiahs in 2023
Rp10 rupiahs in 1998 Rp47.98 rupiahs in 2023
Rp50 rupiahs in 1998 Rp239.9 rupiahs in 2023
Rp100 rupiahs in 1998 Rp479.79 rupiahs in 2023
Rp500 rupiahs in 1998 Rp2,398.95 rupiahs in 2023
Rp1,000 rupiahs in 1998 Rp4,797.9 rupiahs in 2023
Rp5,000 rupiahs in 1998 Rp23,989.52 rupiahs in 2023
Rp10,000 rupiahs in 1998 Rp47,979.04 rupiahs in 2023
Rp50,000 rupiahs in 1998 Rp239,895.19 rupiahs in 2023
Rp100,000 rupiahs in 1998 Rp479,790.38 rupiahs in 2023
Rp500,000 rupiahs in 1998 Rp2,398,951.88 rupiahs in 2023
Rp1,000,000 rupiahs in 1998 Rp4,797,903.75 rupiahs in 2023
Cumulative inflation From 1998 392.79%
Avg. annual inflation From 1998 6.33%
CPI 1998 26.63
CPI today 131.24

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 437.29
2021 444.11
2022 462.81
2023 479.79
2024-04 491.65
Today 492.79

All available years

Today's value of indonesian rupiahs by year:

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 | 2023 |

Other currencies: