# Value of 1983 Israeli New Shekels today

₪100 in 1983
₪21,276.8 in 2024

The inflation rate in Israel between 1983 and today has been 21,176.8%, which translates into a total increase of ₪21,176.8. This means that 100 new shekels in 1983 are equivalent to 21,276.8 new shekels in 2024. In other words, the purchasing power of ₪100 in 1983 equals ₪21,276.8 today. The average annual inflation rate between these periods has been 13.97%.

## Inflation timeline in Israel (1983 - 2024)

The following chart depicts the equivalence of ₪100 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 (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 extrapolated from the latest 12-month rolling average official data.

The following table contains relevant indicators:

Indicator Value
Cumulative inflation 1983-2023 20,389.77%
Cumulative inflation 1983-today 21,176.8%
Avg. Annual inflation 1983-2023 14.23%
CPI 1983 0.54
CPI 2023 111.25
CPI 2024-07 (latest official data) 115.08
CPI today 115.53

## 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 1983 and 2023, use the corresponding CPI values:

Value2023
=Value1983 ×
CPI2023/CPI1983
=₪ 100 ×
111.25/0.54
₪20,489.77

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 115.53:

Valuetoday
=Value1983 ×
CPItoday/CPI1983
=₪ 100 ×
115.53/0.54
₪21,276.8

### 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 ₪100 worth today. There are 40 years between 1983 and 2023 and the average inflation rate was 14.2322%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=₪100 × (1 + 0.142322)40
₪20,489.77

## Israel inflation - Conversion table

Initial Value Equivalent value
₪1 new shekel in 1983 ₪204.9 new shekels in 2023
₪5 new shekels in 1983 ₪1,024.49 new shekels in 2023
₪10 new shekels in 1983 ₪2,048.98 new shekels in 2023
₪50 new shekels in 1983 ₪10,244.89 new shekels in 2023
₪100 new shekels in 1983 ₪20,489.77 new shekels in 2023
₪500 new shekels in 1983 ₪102,448.86 new shekels in 2023
₪1,000 new shekels in 1983 ₪204,897.73 new shekels in 2023
₪5,000 new shekels in 1983 ₪1,024,488.63 new shekels in 2023
₪10,000 new shekels in 1983 ₪2,048,977.26 new shekels in 2023
₪50,000 new shekels in 1983 ₪10,244,886.28 new shekels in 2023
₪100,000 new shekels in 1983 ₪20,489,772.55 new shekels in 2023
₪500,000 new shekels in 1983 ₪102,448,862.77 new shekels in 2023
₪1,000,000 new shekels in 1983 ₪204,897,725.55 new shekels in 2023
 Cumulative inflation From 1983 21,176.8% Avg. annual inflation From 1983 13.97% CPI 1983 0.54 CPI today 115.53

### Value of New Shekel over time (by year)

Period Value
1983 100
1984 473.22
1985 1,939.86
1986 2,868.83
1987 3,416.06
1988 3,976.39
1989 4,785.75
1990 5,608.23
1991 6,681.38
1992 7,484.19
1993 8,301.75
1994 9,320.84
1995 10,246.53
1996 11,416.34
1997 12,440.34
1998 13,123.55
1999 13,803.49
2000 13,946.03
2001 14,106.59
2002 14,920.87
2003 15,025.73
2004 14,968.39
2005 15,164.99
2006 15,477.93
2007 15,548.38
2008 16,256.17
2009 16,801.75
2010 17,253.95
2011 17,855.24
2012 18,155.07
2013 18,440.14
2014 18,528.62
2015 18,417.21
2016 18,315.63
2017 18,363.14
2018 18,508.96
2019 18,666.25
2020 18,551.56
2021 18,831.73
2022 19,659.12
2023 20,489.77
2024-07 21,194.29
Today 21,276.8

All available years

Today's value of israeli new shekels by year:

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 |

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