Value of 1998 Indonesian Ruphias today

Rp100 in 1998

Rp629.79 in 2018

The inflation rate in Indonesia between 1998 and today has been 529.79%, which translates into a total increase of Rp529.79. This means that 100 ruphias in 1998 are equivalent to 629.79 ruphias in 2018. In other words, the purchasing power of Rp100 in 1998 equals Rp629.79 today. The average annual inflation rate has been 9.16%.

Inflation timeline in Indonesia (1998-2018)

The following chart ilustrates the equivalence of Rp100 throughout the years due to inflation and CPI changes. All values are equivalent in terms of purchashing 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 obtained by estimating figures from recent trends.

The following table contains relevant indicators:

Indicator Value
Total Inflation (1998-2018) 516.08%
Total Inflation* 529.79%
Annual inflation avg. (1998-2018) 9.52%
Annual inflation avg.* 9.16%
CPI 1998 17.7
CPI 2018 109.02
CPI today* 111.44
Rp1 in 1998 Rp6.16 in 2018

* 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 in 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 Rp100 worth today. There are 20 years between 1998 and 2018 and the average inflation rate has been 9.1583%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = Rp100 * (1 + 0.09)20 = Rp616.08

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 1998 was 17.7 and the CPI today is 111.44. Therefore,

Final value = Initial value *
CPI final/CPI initial
= Rp100 *
109.02/17.7
= Rp616.08

Indonesia inflation - Conversion table

Initial Value Equivalent value
Rp1 ruphia in 1998 Rp6.3 ruphias today
Rp5 ruphias in 1998 Rp31.49 ruphias today
Rp10 ruphias in 1998 Rp62.98 ruphias today
Rp50 ruphias in 1998 Rp314.89 ruphias today
Rp100 ruphias in 1998 Rp629.79 ruphias today
Rp500 ruphias in 1998 Rp3,148.94 ruphias today
Rp1,000 ruphias in 1998 Rp6,297.89 ruphias today
Rp5,000 ruphias in 1998 Rp31,489.44 ruphias today
Rp10,000 ruphias in 1998 Rp62,978.88 ruphias today
Rp50,000 ruphias in 1998 Rp314,894.38 ruphias today
Rp100,000 ruphias in 1998 Rp629,788.75 ruphias today
Rp500,000 ruphias in 1998 Rp3,148,943.77 ruphias today
Rp1,000,000 ruphias in 1998 Rp6,297,887.54 ruphias today

Value of Ruphia in time (by year)

Period Value
1998 100
1999 177.61
2000 181.04
2001 197.95
2002 222.78
2003 244.88
2004 257.52
2005 274.19
2006 321.01
2007 342.2
2008 364.72
2009 402.05
2010 413.24
2011 441.98
2012 458.72
2013 478.43
2014 515.37
2015 558.45
2016 577.18
2017 594.64
2018 616.08
Today 629.79