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Value of 1938 New Zealand Dollars today

$100 in 1938
$6,601.43 in 2024

The inflation rate in New Zealand between 1938 and today has been 6,501.43%, which translates into a total increase of $6,501.43. This means that 100 dollars in 1938 are equivalent to 6,601.43 dollars in 2024. In other words, the purchasing power of $100 in 1938 equals $6,601.43 today. The average annual inflation rate between these periods has been 4.99%.

Inflation timeline in New Zealand (1938 - 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 (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 extrapolated from the latest 12-month rolling average official data.

The following table contains relevant indicators:

Indicator Value
Cumulative inflation 1938-2023 6,208.29%
Cumulative inflation 1938-today 6,501.43%
Avg. Annual inflation 1938-2023 5%
CPI 1938 2.01
CPI 2023 126.79
CPI 2024-Q2 (latest official data) 130.04
CPI today 132.68

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 1938 and 2023, use the corresponding CPI values:

Value2023
=Value1938 ×
CPI2023/CPI1938
=$ 100 ×
126.79/2.01
$6,308.29

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 132.68:

Valuetoday
=Value1938 ×
CPItoday/CPI1938
=$ 100 ×
132.68/2.01
$6,601.43

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 85 years between 1938 and 2023 and the average inflation rate was 4.9966%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=$100 × (1 + 0.049966)85
$6,308.29

New Zealand inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1938 $63.08 dollars in 2023
$5 dollars in 1938 $315.41 dollars in 2023
$10 dollars in 1938 $630.83 dollars in 2023
$50 dollars in 1938 $3,154.14 dollars in 2023
$100 dollars in 1938 $6,308.29 dollars in 2023
$500 dollars in 1938 $31,541.45 dollars in 2023
$1,000 dollars in 1938 $63,082.89 dollars in 2023
$5,000 dollars in 1938 $315,414.45 dollars in 2023
$10,000 dollars in 1938 $630,828.9 dollars in 2023
$50,000 dollars in 1938 $3,154,144.52 dollars in 2023
$100,000 dollars in 1938 $6,308,289.04 dollars in 2023
$500,000 dollars in 1938 $31,541,445.2 dollars in 2023
$1,000,000 dollars in 1938 $63,082,890.41 dollars in 2023
Cumulative inflation From 1938 6,501.43%
Avg. annual inflation From 1938 4.99%
CPI 1938 2.01
CPI today 132.68

Value of Dollar over time (by year)

Period Value
1938 100
1939 104.58
1940 108.92
1941 112.98
1942 116.66
1943 119.51
1944 121.58
1945 123.24
1946 124.19
1947 128.27
1948 138.3
1949 140.59
1950 148.61
1951 164.99
1952 177.78
1953 185.83
1954 194.4
1955 199.28
1956 206.23
1957 210.71
1958 220.08
1959 228.5
1960 230.1
1961 234.24
1962 240.51
1963 245.25
1964 253.77
1965 262.39
1966 269.62
1967 285.95
1968 298.28
1969 312.98
1970 333.37
1971 368
1972 393.52
1973 425.65
1974 472.94
1975 542.39
1976 634.09
1977 725.3
1978 812.02
1979 923.26
1980 1,081.61
1981 1,247.85
1982 1,449.55
1983 1,555.96
1984 1,651.98
1985 1,906.68
1986 2,158.62
1987 2,498.48
1988 2,657.76
1989 2,809.68
1990 2,981.03
1991 3,058.61
1992 3,089.64
1993 3,129.44
1994 3,184.06
1995 3,303.62
1996 3,379.13
1997 3,419.25
1998 3,462.51
1999 3,458.55
2000 3,549
2001 3,642.19
2002 3,739.69
2003 3,805.27
2004 3,892.42
2005 4,010.64
2006 4,145.61
2007 4,244.12
2008 4,412.14
2009 4,505.48
2010 4,609.2
2011 4,794.86
2012 4,845.68
2013 4,900.65
2014 4,960.8
2015 4,975.32
2016 5,007.48
2017 5,100.16
2018 5,181.67
2019 5,265.6
2020 5,355.88
2021 5,566.96
2022 5,966.24
2023 6,308.29
2024-Q2 6,469.78
Today 6,601.43

All available years

Today's value of New Zealand dollars by year:

1926 | 1927 | 1928 | 1929 | 1930 | 1931 | 1932 | 1933 | 1934 | 1935 | 1936 | 1937 | 1938 | 1939 | 1940 | 1941 | 1942 | 1943 | 1944 | 1945 | 1946 | 1947 | 1948 | 1949 | 1950 | 1951 | 1952 | 1953 | 1954 | 1955 | 1956 | 1957 | 1958 | 1959 | 1960 | 1961 | 1962 | 1963 | 1964 | 1965 | 1966 | 1967 | 1968 | 1969 | 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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