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Value of 1987 New Zealand Dollars today

$100 in 1987
$264.27 in 2024

The inflation rate in New Zealand between 1987 and today has been 164.27%, which translates into a total increase of $164.27. This means that 100 dollars in 1987 are equivalent to 264.27 dollars in 2024. In other words, the purchasing power of $100 in 1987 equals $264.27 today. The average annual inflation rate between these periods has been 2.66%.

Inflation timeline in New Zealand (1987 - 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 1987-2023 152.49%
Cumulative inflation 1987-today 164.27%
Avg. Annual inflation 1987-2023 2.61%
CPI 1987 50.22
CPI 2023 126.79
CPI 2024-Q2 (latest official data) 130.04
CPI today 132.71

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 1987 and 2023, use the corresponding CPI values:

Value2023
=Value1987 ×
CPI2023/CPI1987
=$ 100 ×
126.79/50.22
$252.49

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 132.71:

Valuetoday
=Value1987 ×
CPItoday/CPI1987
=$ 100 ×
132.71/50.22
$264.27

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 36 years between 1987 and 2023 and the average inflation rate was 2.6061%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=$100 × (1 + 0.026061)36
$252.49

New Zealand inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1987 $2.52 dollars in 2023
$5 dollars in 1987 $12.62 dollars in 2023
$10 dollars in 1987 $25.25 dollars in 2023
$50 dollars in 1987 $126.24 dollars in 2023
$100 dollars in 1987 $252.49 dollars in 2023
$500 dollars in 1987 $1,262.43 dollars in 2023
$1,000 dollars in 1987 $2,524.85 dollars in 2023
$5,000 dollars in 1987 $12,624.26 dollars in 2023
$10,000 dollars in 1987 $25,248.51 dollars in 2023
$50,000 dollars in 1987 $126,242.57 dollars in 2023
$100,000 dollars in 1987 $252,485.14 dollars in 2023
$500,000 dollars in 1987 $1,262,425.72 dollars in 2023
$1,000,000 dollars in 1987 $2,524,851.44 dollars in 2023
Cumulative inflation From 1987 164.27%
Avg. annual inflation From 1987 2.66%
CPI 1987 50.22
CPI today 132.71

Value of Dollar over time (by year)

Period Value
1987 100
1988 106.38
1989 112.46
1990 119.31
1991 122.42
1992 123.66
1993 125.25
1994 127.44
1995 132.23
1996 135.25
1997 136.85
1998 138.58
1999 138.43
2000 142.05
2001 145.78
2002 149.68
2003 152.3
2004 155.79
2005 160.52
2006 165.93
2007 169.87
2008 176.59
2009 180.33
2010 184.48
2011 191.91
2012 193.95
2013 196.15
2014 198.55
2015 199.13
2016 200.42
2017 204.13
2018 207.39
2019 210.75
2020 214.37
2021 222.81
2022 238.79
2023 252.49
2024-Q2 258.95
Today 264.27

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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