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Value of 1966 New Zealand Dollars today

$100 in 1966
$2,200.53 in 2022

The inflation rate in New Zealand between 1966 and today has been 2,100.53%, which translates into a total increase of $2,100.53. This means that 100 dollars in 1966 are equivalent to 2,200.53 dollars in 2022. In other words, the purchasing power of $100 in 1966 equals $2,200.53 today. The average annual inflation rate between these periods has been 5.68%.

Inflation timeline in New Zealand (1966 - 2022)

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 1966-2021 1,964.71%
Cumulative inflation 1966-today 2,100.53%
Avg. Annual inflation 1966-2021 5.66%
CPI 1966 5.42
CPI 2021 111.89
CPI 2022-Q1 (latest official data) 116.75
CPI today 119.25

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 1966 and 2021, use the corresponding CPI values:

Value2021
=Value1966 ×
CPI2021/CPI1966
=$ 100 ×
111.89/5.42
$2,064.71

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 119.25:

Valuetoday
=Value1966 ×
CPItoday/CPI1966
=$ 100 ×
119.25/5.42
$2,200.53

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 55 years between 1966 and 2021 and the average inflation rate was 5.659%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=$100 × (1 + 0.05659)55
$2,064.71

New Zealand inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1966 $20.65 dollars in 2021
$5 dollars in 1966 $103.24 dollars in 2021
$10 dollars in 1966 $206.47 dollars in 2021
$50 dollars in 1966 $1,032.36 dollars in 2021
$100 dollars in 1966 $2,064.71 dollars in 2021
$500 dollars in 1966 $10,323.56 dollars in 2021
$1,000 dollars in 1966 $20,647.13 dollars in 2021
$5,000 dollars in 1966 $103,235.63 dollars in 2021
$10,000 dollars in 1966 $206,471.26 dollars in 2021
$50,000 dollars in 1966 $1,032,356.32 dollars in 2021
$100,000 dollars in 1966 $2,064,712.65 dollars in 2021
$500,000 dollars in 1966 $10,323,563.23 dollars in 2021
$1,000,000 dollars in 1966 $20,647,126.46 dollars in 2021
Cumulative inflation From 1966 2,100.53%
Avg. annual inflation From 1966 5.68%
CPI 1966 5.42
CPI today 119.25

Value of Dollar over time (by year)

Period Value
1966 100
1967 106.06
1968 110.63
1969 116.08
1970 123.64
1971 136.49
1972 145.95
1973 157.87
1974 175.41
1975 201.17
1976 235.18
1977 269
1978 301.17
1979 342.43
1980 401.15
1981 462.81
1982 537.62
1983 577.09
1984 612.7
1985 707.16
1986 800.6
1987 926.65
1988 985.73
1989 1,042.07
1990 1,105.63
1991 1,134.4
1992 1,145.91
1993 1,160.67
1994 1,180.93
1995 1,225.27
1996 1,253.28
1997 1,268.15
1998 1,284.2
1999 1,282.73
2000 1,316.28
2001 1,350.84
2002 1,387.01
2003 1,411.33
2004 1,443.65
2005 1,487.49
2006 1,537.55
2007 1,574.09
2008 1,636.41
2009 1,671.03
2010 1,709.49
2011 1,778.35
2012 1,797.2
2013 1,817.59
2014 1,839.9
2015 1,845.28
2016 1,857.21
2017 1,891.58
2018 1,921.82
2019 1,952.94
2020 1,986.43
2021 2,064.71
2022-Q1 2,154.32
Today 2,200.53

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 |

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