# Value of 1968 New Zealand Dollars today

\$100 in 1968

\$1,802.51 today

The inflation rate in New Zealand between 1968 and today has been 1,702.51%, which translates into a total increase of \$1,702.51. This means that 100 dollars in 1968 are equivalent to 1,802.51 dollars in 2019. In other words, the purchasing power of \$100 in 1968 equals \$1,802.51 today. The average annual inflation rate has been 5.72%.

## Inflation timeline in New Zealand (1968-2020)

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 (1968-2019) 1,700.06%
Total Inflation* 1,702.51%
Annual inflation avg. (1968-2019) 5.83%
Annual inflation avg.* 5.72%
CPI 1968 5.82
CPI 2019 104.79
CPI today* 104.93
\$1 in 1968 \$18 in 2019

* 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 51 years between 1968 and 2019 and the average inflation rate has been 5.7186%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = \$100 * (1 + 0.06)51 = \$1,800.06

#### 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 1968 was 5.82 and the CPI today is 104.93. Therefore,

Final value = Initial value *
CPI final/CPI initial
= \$100 *
104.79/5.82
= \$1,800.06

### New Zealand inflation - Conversion table

Initial Value Equivalent value
\$1 dollar in 1968 \$18.03 dollars today
\$5 dollars in 1968 \$90.13 dollars today
\$10 dollars in 1968 \$180.25 dollars today
\$50 dollars in 1968 \$901.26 dollars today
\$100 dollars in 1968 \$1,802.51 dollars today
\$500 dollars in 1968 \$9,012.56 dollars today
\$1,000 dollars in 1968 \$18,025.12 dollars today
\$5,000 dollars in 1968 \$90,125.6 dollars today
\$10,000 dollars in 1968 \$180,251.2 dollars today
\$50,000 dollars in 1968 \$901,256 dollars today
\$100,000 dollars in 1968 \$1,802,511.99 dollars today
\$500,000 dollars in 1968 \$9,012,559.95 dollars today
\$1,000,000 dollars in 1968 \$18,025,119.91 dollars today

Period Value
1968 100
1969 105.07
1970 109.24
1971 120.11
1972 131.07
1973 138.22
1974 152.26
1975 171.38
1976 198.28
1977 229.3
1978 264.43
1979 291.14
1980 339.27
1981 394.01
1982 455.87
1983 525.61
1984 544.52
1985 595.7
1986 686.64
1987 811.88
1988 889.74
1989 931.67
1990 998.75
1991 1,047.2
1992 1,057.45
1993 1,071.42
1994 1,086.33
1995 1,116.74
1996 1,149.33
1997 1,178.67
1998 1,188.44
1999 1,192.79
2000 1,198.85
2001 1,246.52
2002 1,269.16
2003 1,303.72
2004 1,323.98
2005 1,359.73
2006 1,402.63
2007 1,439.59
2008 1,485.42
2009 1,535.56
2010 1,565.64
2011 1,628.67
2012 1,658.75
2013 1,674.5
2014 1,701.72
2015 1,714.61
2016 1,716.05
2017 1,738.96
2018 1,766.69
2019 1,800.06
Today 1,802.51