Value of 1987 Israeli New Shekels today

₪100 in 1987

₪592.6 in 2018

The inflation rate in Israel between 1987 and today has been 492.6%, which translates into a total increase of ₪492.6. This means that 100 new shekels in 1987 are equivalent to 592.6 new shekels in 2018. In other words, the purchasing power of ₪100 in 1987 equals ₪592.6 today. The average annual inflation rate has been 5.72%.

Inflation timeline in Israel (1987-2018)

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 (1987-2018) 484.45%
Total Inflation* 492.6%
Annual inflation avg. (1987-2018) 5.86%
Annual inflation avg.* 5.72%
CPI 1987 17.09
CPI 2018 99.89
CPI today* 101.29
₪1 in 1987 ₪5.84 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 31 years between 1987 and 2018 and the average inflation rate has been 5.718%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = ₪100 * (1 + 0.06)31 = ₪584.45

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 1987 was 17.09 and the CPI today is 101.29. Therefore,

Final value = Initial value *
CPI final/CPI initial
= ₪100 *
99.89/17.09
= ₪584.45

Israel inflation - Conversion table

Initial Value Equivalent value
₪1 new shekel in 1987 ₪5.93 new shekels today
₪5 new shekels in 1987 ₪29.63 new shekels today
₪10 new shekels in 1987 ₪59.26 new shekels today
₪50 new shekels in 1987 ₪296.3 new shekels today
₪100 new shekels in 1987 ₪592.6 new shekels today
₪500 new shekels in 1987 ₪2,963 new shekels today
₪1,000 new shekels in 1987 ₪5,926 new shekels today
₪5,000 new shekels in 1987 ₪29,629.99 new shekels today
₪10,000 new shekels in 1987 ₪59,259.98 new shekels today
₪50,000 new shekels in 1987 ₪296,299.89 new shekels today
₪100,000 new shekels in 1987 ₪592,599.78 new shekels today
₪500,000 new shekels in 1987 ₪2,962,998.9 new shekels today
₪1,000,000 new shekels in 1987 ₪5,925,997.8 new shekels today

Value of New Shekel in time (by year)

Period Value
1987 100
1988 116.13
1989 135.2
1990 163.17
1991 191.91
1992 226.53
1993 247.75
1994 275.62
1995 315.48
1996 341.04
1997 377.15
1998 403.5
1999 438.29
2000 444.2
2001 444.2
2002 450.39
2003 479.65
2004 470.83
2005 476.51
2006 487.88
2007 487.4
2008 503.84
2009 523.01
2010 543.53
2011 557.99
2012 570.15
2013 579.47
2014 590.13
2015 588.98
2016 583.29
2017 582.12
2018 584.45
Today 592.6