Value of 1938 New Zealand Dollars today

$100 in 1938

$5,223.55 today

The inflation rate in New Zealand between 1938 and today has been 5,123.55%, which translates into a total increase of $5,123.55. This means that 100 dollars in 1938 are equivalent to 5,223.55 dollars in 2018. In other words, the purchasing power of $100 in 1938 equals $5,223.55 today. The average annual inflation rate has been 5%.

Inflation timeline in New Zealand (1938-2019)

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 (NZD) 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 (1938-2018) 5,031.68%
Total Inflation* 5,123.55%
Annual inflation avg. (1938-2018) 5.05%
Annual inflation avg.* 5%
CPI 1938 2
CPI 2018 102.84
CPI today* 104.69
$1 in 1938 $51.32 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 80 years between 1938 and 2018 and the average inflation rate has been 5.0049%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = $100 * (1 + 0.05)80 = $5,131.68

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 1938 was 2 and the CPI today is 104.69. Therefore,

Final value = Initial value *
CPI final/CPI initial
= $100 *
102.84/2
= $5,131.68

New Zealand inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1938 $52.24 dollars today
$5 dollars in 1938 $261.18 dollars today
$10 dollars in 1938 $522.36 dollars today
$50 dollars in 1938 $2,611.78 dollars today
$100 dollars in 1938 $5,223.55 dollars today
$500 dollars in 1938 $26,117.76 dollars today
$1,000 dollars in 1938 $52,235.51 dollars today
$5,000 dollars in 1938 $261,177.57 dollars today
$10,000 dollars in 1938 $522,355.14 dollars today
$50,000 dollars in 1938 $2,611,775.7 dollars today
$100,000 dollars in 1938 $5,223,551.39 dollars today
$500,000 dollars in 1938 $26,117,756.97 dollars today
$1,000,000 dollars in 1938 $52,235,513.93 dollars today

Value of Dollar in time (by year)

Period Value
1938 100
1939 100.63
1940 108.34
1941 111.3
1942 115.52
1943 120.06
1944 121.75
1945 123.55
1946 125.13
1947 124.92
1948 137.59
1949 139.81
1950 142.33
1951 154.49
1952 172.94
1953 180.91
1954 190.98
1955 195.59
1956 200.49
1957 209.72
1958 213.52
1959 227.32
1960 229.92
1961 233.52
1962 238.51
1963 243.51
1964 248.91
1965 260.11
1966 266.3
1967 272.58
1968 290.47
1969 305.2
1970 317.31
1971 348.88
1972 380.71
1973 401.5
1974 442.28
1975 497.8
1976 575.95
1977 666.05
1978 768.1
1979 845.68
1980 985.47
1981 1,144.47
1982 1,324.15
1983 1,526.72
1984 1,581.65
1985 1,730.33
1986 1,994.46
1987 2,358.24
1988 2,584.42
1989 2,706.21
1990 2,901.06
1991 3,041.78
1992 3,071.55
1993 3,112.14
1994 3,155.44
1995 3,243.79
1996 3,338.45
1997 3,423.65
1998 3,452.05
1999 3,464.67
2000 3,482.29
2001 3,620.75
2002 3,686.52
2003 3,786.9
2004 3,845.74
2005 3,949.59
2006 4,074.21
2007 4,181.55
2008 4,314.69
2009 4,460.32
2010 4,547.69
2011 4,730.76
2012 4,818.14
2013 4,863.91
2014 4,942.96
2015 4,980.41
2016 4,984.57
2017 5,051.14
2018 5,131.68
Today 5,223.55