Value of 1963 Norwegian Kroner today

kr100 in 1963

kr1,208.05 in 2019

The inflation rate in Norway between 1963 and today has been 1,108.05%, which translates into a total increase of kr1,108.05. This means that 100 kroner in 1963 are equivalent to 1,208.05 kroner in 2019. In other words, the purchasing power of kr100 in 1963 equals kr1,208.05 today. The average annual inflation rate has been 4.47%.

Inflation timeline in Norway (1963-2019)

The following chart depicts the equivalence of kr100 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 (NOK) 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 (1963-2019) 1,106.29%
Total Inflation* 1,108.05%
Annual inflation avg. (1963-2019) 4.55%
Annual inflation avg.* 4.47%
CPI 1963 9.1
CPI 2019 109.8
CPI today* 109.96
kr1 in 1963 kr12.06 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 in 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 kr100 worth today. There are 56 years between 1963 and 2019 and the average inflation rate has been 4.4682%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = kr100 * (1 + 0.04)56 = kr1,206.29

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 1963 was 9.1 and the CPI today is 109.96. Therefore,

Final value = Initial value *
CPI final/CPI initial
= kr100 *
109.8/9.1
= kr1,206.29

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1963 kr12.08 kroner today
kr5 kroner in 1963 kr60.4 kroner today
kr10 kroner in 1963 kr120.8 kroner today
kr50 kroner in 1963 kr604.02 kroner today
kr100 kroner in 1963 kr1,208.05 kroner today
kr500 kroner in 1963 kr6,040.23 kroner today
kr1,000 kroner in 1963 kr12,080.46 kroner today
kr5,000 kroner in 1963 kr60,402.29 kroner today
kr10,000 kroner in 1963 kr120,804.58 kroner today
kr50,000 kroner in 1963 kr604,022.9 kroner today
kr100,000 kroner in 1963 kr1,208,045.81 kroner today
kr500,000 kroner in 1963 kr6,040,229.04 kroner today
kr1,000,000 kroner in 1963 kr12,080,458.08 kroner today

Value of Krone in time (by year)

Period Value
1963 100
1964 101.57
1965 108.66
1966 111.81
1967 116.54
1968 122.05
1969 125.98
1970 129.92
1971 146.46
1972 153.54
1973 165.35
1974 178.74
1975 196.85
1976 218.9
1977 236.22
1978 258.27
1979 278.74
1980 291.14
1981 330.69
1982 370.24
1983 414.18
1984 443.85
1985 470.21
1986 496.58
1987 540.52
1988 580.08
1989 613.03
1990 639.4
1991 666.87
1992 685.54
1993 700.92
1994 714.11
1995 727.29
1996 742.67
1997 755.86
1998 773.43
1999 792.11
2000 814.08
2001 838.25
2002 855.83
2003 878.9
2004 884.4
2005 894.28
2006 910.76
2007 930.54
2008 956.9
2009 977.78
2010 997.55
2011 1,025.02
2012 1,026.12
2013 1,040.4
2014 1,061.27
2015 1,083.25
2016 1,108.52
2017 1,146.97
2018 1,165.64
2019 1,206.29
Today 1,208.05