Value of 1971 Israeli New Shekels today

₪100 in 1971

₪6,658,814.46 in 2018

The inflation rate in Israel between 1971 and today has been 6,658,714.46%, which translates into a total increase of ₪6,658,714.46. This means that 100 new shekels in 1971 are equivalent to 6,658,814.46 new shekels in 2018. In other words, the purchasing power of ₪100 in 1971 equals ₪6,658,814.46 today. The average annual inflation rate has been 26.03%.

Inflation timeline in Israel (1971-2018)

The following chart ilustrates the equivalence of ₪100 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 (ILS) 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 (1971-2018) 6,567,098.51%
Total Inflation* 6,658,714.46%
Annual inflation avg. (1971-2018) 26.62%
Annual inflation avg.* 26.03%
CPI 1971 0
CPI 2018 99.89
CPI today* 101.29
₪1 in 1971 ₪65,671.99 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 ₪100 worth today. There are 47 years between 1971 and 2018 and the average inflation rate has been 26.0339%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = ₪100 * (1 + 0.26)47 = ₪6,567,198.51

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 1971 was 0 and the CPI today is 101.29. Therefore,

Final value = Initial value *
CPI final/CPI initial
= ₪100 *
99.89/0
= ₪6,567,198.51

Israel inflation - Conversion table

Initial Value Equivalent value
₪1 new shekel in 1971 ₪66,588.14 new shekels today
₪5 new shekels in 1971 ₪332,940.72 new shekels today
₪10 new shekels in 1971 ₪665,881.45 new shekels today
₪50 new shekels in 1971 ₪3,329,407.23 new shekels today
₪100 new shekels in 1971 ₪6,658,814.46 new shekels today
₪500 new shekels in 1971 ₪33,294,072.28 new shekels today
₪1,000 new shekels in 1971 ₪66,588,144.57 new shekels today
₪5,000 new shekels in 1971 ₪332,940,722.84 new shekels today
₪10,000 new shekels in 1971 ₪665,881,445.67 new shekels today
₪50,000 new shekels in 1971 ₪3,329,407,228.36 new shekels today
₪100,000 new shekels in 1971 ₪6,658,814,456.72 new shekels today
₪500,000 new shekels in 1971 ₪33,294,072,283.61 new shekels today
₪1,000,000 new shekels in 1971 ₪66,588,144,567.22 new shekels today

Value of New Shekel in time (by year)

Period Value
1971 100
1972 113.38
1973 127.39
1974 161.02
1975 251.47
1976 310.61
1977 428.72
1978 611.11
1979 905.3
1980 1,913.67
1981 4,457.9
1982 8,982.06
1983 20,793.78
1984 60,445.9
1985 329,356.33
1986 939,242.14
1987 1,123,662.17
1988 1,304,853.66
1989 1,519,160.88
1990 1,833,512.15
1991 2,156,425.53
1992 2,545,389.58
1993 2,783,905.28
1994 3,097,033.11
1995 3,544,875.49
1996 3,832,138.16
1997 4,237,858.95
1998 4,534,005.86
1999 4,924,919.14
2000 4,991,359
2001 4,991,359
2002 5,060,913.67
2003 5,389,674.06
2004 5,290,493.19
2005 5,354,361.92
2006 5,482,100.03
2007 5,476,777.64
2008 5,661,433.02
2009 5,876,843.38
2010 6,107,386.01
2011 6,269,939.91
2012 6,406,524.14
2013 6,511,246.32
2014 6,631,074.47
2015 6,618,110.34
2016 6,554,261.99
2017 6,541,034.24
2018 6,567,198.51
Today 6,658,814.46