Value of 1983 Israeli New Shekels today

₪100 in 1983

₪32,023.1 in 2018

The inflation rate in Israel between 1983 and today has been 31,923.1%, which translates into a total increase of ₪31,923.1. This means that 100 new shekels in 1983 are equivalent to 32,023.1 new shekels in 2018. In other words, the purchasing power of ₪100 in 1983 equals ₪32,023.1 today. The average annual inflation rate has been 17.38%.

Inflation timeline in Israel (1983-2018)

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 (1983-2018) 31,482.51%
Total Inflation* 31,923.1%
Annual inflation avg. (1983-2018) 17.87%
Annual inflation avg.* 17.38%
CPI 1983 0.32
CPI 2018 99.89
CPI today* 101.29
₪1 in 1983 ₪315.83 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 35 years between 1983 and 2018 and the average inflation rate has been 17.3806%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = ₪100 * (1 + 0.17)35 = ₪31,582.51

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 1983 was 0.32 and the CPI today is 101.29. Therefore,

Final value = Initial value *
CPI final/CPI initial
= ₪100 *
99.89/0.32
= ₪31,582.51

Israel inflation - Conversion table

Initial Value Equivalent value
₪1 new shekel in 1983 ₪320.23 new shekels today
₪5 new shekels in 1983 ₪1,601.16 new shekels today
₪10 new shekels in 1983 ₪3,202.31 new shekels today
₪50 new shekels in 1983 ₪16,011.55 new shekels today
₪100 new shekels in 1983 ₪32,023.1 new shekels today
₪500 new shekels in 1983 ₪160,115.51 new shekels today
₪1,000 new shekels in 1983 ₪320,231.02 new shekels today
₪5,000 new shekels in 1983 ₪1,601,155.09 new shekels today
₪10,000 new shekels in 1983 ₪3,202,310.17 new shekels today
₪50,000 new shekels in 1983 ₪16,011,550.87 new shekels today
₪100,000 new shekels in 1983 ₪32,023,101.75 new shekels today
₪500,000 new shekels in 1983 ₪160,115,508.75 new shekels today
₪1,000,000 new shekels in 1983 ₪320,231,017.5 new shekels today

Value of New Shekel in time (by year)

Period Value
1983 100
1984 290.69
1985 1,583.92
1986 4,516.94
1987 5,403.84
1988 6,275.21
1989 7,305.84
1990 8,817.6
1991 10,370.53
1992 12,241.11
1993 13,388.16
1994 14,894.03
1995 17,047.77
1996 18,429.25
1997 20,380.41
1998 21,804.62
1999 23,684.57
2000 24,004.09
2001 24,004.09
2002 24,338.59
2003 25,919.64
2004 25,442.67
2005 25,749.82
2006 26,364.13
2007 26,338.53
2008 27,226.57
2009 28,262.5
2010 29,371.21
2011 30,152.95
2012 30,809.8
2013 31,313.43
2014 31,889.7
2015 31,827.35
2016 31,520.3
2017 31,456.68
2018 31,582.51
Today 32,023.1