# Value of 1984 New Zealand Dollars today

\$100 in 1984

\$336.9 in 2020

The inflation rate in New Zealand between 1984 and today has been 236.9%, which translates into a total increase of \$236.9. This means that 100 dollars in 1984 are equivalent to 336.9 dollars in 2020. In other words, the purchasing power of \$100 in 1984 equals \$336.9 today. The average annual inflation rate has been 3.34%.

## Inflation timeline in New Zealand (1984-2020)

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 (1984-2020) 236.71%
Total Inflation* 236.9%
Annual inflation avg. (1984-2020) 3.43%
Annual inflation avg.* 3.34%
CPI 1984 31.7
CPI 2020 106.73
CPI today* 106.79
\$1 in 1984 \$3.37 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 36 years between 1984 and 2020 and the average inflation rate has been 3.3372%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = \$100 * (1 + 0.03)36 = \$336.71

#### 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 1984 was 31.7 and the CPI today is 106.79. Therefore,

Final value = Initial value *
CPI final/CPI initial
= \$100 *
106.73/31.7
= \$336.71

### New Zealand inflation - Conversion table

Initial Value Equivalent value
\$1 dollar in 1984 \$3.37 dollars today
\$5 dollars in 1984 \$16.84 dollars today
\$10 dollars in 1984 \$33.69 dollars today
\$50 dollars in 1984 \$168.45 dollars today
\$100 dollars in 1984 \$336.9 dollars today
\$500 dollars in 1984 \$1,684.48 dollars today
\$1,000 dollars in 1984 \$3,368.97 dollars today
\$5,000 dollars in 1984 \$16,844.83 dollars today
\$10,000 dollars in 1984 \$33,689.65 dollars today
\$50,000 dollars in 1984 \$168,448.25 dollars today
\$100,000 dollars in 1984 \$336,896.51 dollars today
\$500,000 dollars in 1984 \$1,684,482.53 dollars today
\$1,000,000 dollars in 1984 \$3,368,965.06 dollars today

Period Value
1984 100
1985 109.4
1986 126.1
1987 149.1
1988 163.4
1989 171.1
1990 183.42
1991 192.32
1992 194.2
1993 196.76
1994 199.5
1995 205.09
1996 211.07
1997 216.46
1998 218.26
1999 219.05
2000 220.17
2001 228.92
2002 233.08
2003 239.43
2004 243.15
2005 249.71
2006 257.59
2007 264.38
2008 272.8
2009 282
2010 287.53
2011 299.1
2012 304.63
2013 307.52
2014 312.52
2015 314.89
2016 315.15
2017 319.36
2018 324.45
2019 330.58
2020 336.71
Today 336.9