# Value of 1964 New Zealand Dollars today

\$100 in 1964

\$2,141.07 in 2020

The inflation rate in New Zealand between 1964 and today has been 2,041.07%, which translates into a total increase of \$2,041.07. This means that 100 dollars in 1964 are equivalent to 2,141.07 dollars in 2020. In other words, the purchasing power of \$100 in 1964 equals \$2,141.07 today. The average annual inflation rate has been 5.52%.

## Inflation timeline in New Zealand (1964-2020)

The following chart depicts the equivalence of \$100 throughout the years due to 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 obtained by estimating figures from recent trends.

The following table contains relevant indicators:

Indicator Value
Total Inflation (1964-2020) 2,039.53%
Total Inflation* 2,041.07%
Annual inflation avg. (1964-2020) 5.62%
Annual inflation avg.* 5.52%
CPI 1964 4.99
CPI 2020 106.73
CPI today* 106.81
\$1 in 1964 \$21.4 in 2020

* 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 with 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 56 years between 1964 and 2020 and the average inflation rate has been 5.5223%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = \$100 * (1 + 0.06)56 = \$2,139.53

#### 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 1964 was 4.99 and the CPI today is 106.81. Therefore,

Final value = Initial value *
CPI final/CPI initial
= \$100 *
106.73/4.99
= \$2,139.53

### New Zealand inflation - Conversion table

Initial Value Equivalent value
\$1 dollar in 1964 \$21.41 dollars today
\$5 dollars in 1964 \$107.05 dollars today
\$10 dollars in 1964 \$214.11 dollars today
\$50 dollars in 1964 \$1,070.54 dollars today
\$100 dollars in 1964 \$2,141.07 dollars today
\$500 dollars in 1964 \$10,705.36 dollars today
\$1,000 dollars in 1964 \$21,410.73 dollars today
\$5,000 dollars in 1964 \$107,053.64 dollars today
\$10,000 dollars in 1964 \$214,107.28 dollars today
\$50,000 dollars in 1964 \$1,070,536.38 dollars today
\$100,000 dollars in 1964 \$2,141,072.77 dollars today
\$500,000 dollars in 1964 \$10,705,363.85 dollars today
\$1,000,000 dollars in 1964 \$21,410,727.69 dollars today

Period Value
1964 100
1965 104.5
1966 106.99
1967 109.51
1968 116.7
1969 122.62
1970 127.48
1971 140.16
1972 152.95
1973 161.3
1974 177.69
1975 199.99
1976 231.39
1977 267.59
1978 308.58
1979 339.75
1980 395.91
1981 459.79
1982 531.98
1983 613.36
1984 635.43
1985 695.16
1986 801.28
1987 947.43
1988 1,038.29
1989 1,087.22
1990 1,165.5
1991 1,222.04
1992 1,234
1993 1,250.3
1994 1,267.7
1995 1,303.2
1996 1,341.23
1997 1,375.45
1998 1,386.86
1999 1,391.93
2000 1,399.01
2001 1,454.64
2002 1,481.06
2003 1,521.39
2004 1,545.03
2005 1,586.75
2006 1,636.81
2007 1,679.94
2008 1,733.43
2009 1,791.94
2010 1,827.04
2011 1,900.59
2012 1,935.69
2013 1,954.08
2014 1,985.84
2015 2,000.88
2016 2,002.55
2017 2,029.3
2018 2,061.65
2019 2,100.59
2020 2,139.53
Today 2,141.07