kr

Value of 1963 Norwegian Kroner today

kr100 in 1963
kr1,327.55 in 2022

The inflation rate in Norway between 1963 and today has been 1,227.55%, which translates into a total increase of kr1,227.55. This means that 100 kroner in 1963 are equivalent to 1,327.55 kroner in 2022. In other words, the purchasing power of kr100 in 1963 equals kr1,327.55 today. The average annual inflation rate between these periods has been 4.48%.

Inflation timeline in Norway (1963 - 2022)

The following chart depicts the equivalence of kr100 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 (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 extrapolated from the latest 12-month rolling average official data.

The following table contains relevant indicators:

Indicator Value
Cumulative inflation 1963-2021 1,167.1%
Cumulative inflation 1963-today 1,227.55%
Avg. Annual inflation 1963-2021 4.48%
CPI 1963 9.16
CPI 2021 116.09
CPI 2022-04 (latest official data) 121.2
CPI today 121.63

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 1963 and 2021, use the corresponding CPI values:

Value2021
=Value1963 ×
CPI2021/CPI1963
=kr 100 ×
116.09/9.16
kr1,267.1

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 121.63:

Valuetoday
=Value1963 ×
CPItoday/CPI1963
=kr 100 ×
121.63/9.16
kr1,327.55

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 kr100 worth today. There are 58 years between 1963 and 2021 and the average inflation rate was 4.4754%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=kr100 × (1 + 0.044754)58
kr1,267.1

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1963 kr12.67 kroner in 2021
kr5 kroner in 1963 kr63.36 kroner in 2021
kr10 kroner in 1963 kr126.71 kroner in 2021
kr50 kroner in 1963 kr633.55 kroner in 2021
kr100 kroner in 1963 kr1,267.1 kroner in 2021
kr500 kroner in 1963 kr6,335.51 kroner in 2021
kr1,000 kroner in 1963 kr12,671.01 kroner in 2021
kr5,000 kroner in 1963 kr63,355.05 kroner in 2021
kr10,000 kroner in 1963 kr126,710.11 kroner in 2021
kr50,000 kroner in 1963 kr633,550.54 kroner in 2021
kr100,000 kroner in 1963 kr1,267,101.08 kroner in 2021
kr500,000 kroner in 1963 kr6,335,505.42 kroner in 2021
kr1,000,000 kroner in 1963 kr12,671,010.85 kroner in 2021
Cumulative inflation From 1963 1,227.55%
Avg. annual inflation From 1963 4.48%
CPI 1963 9.16
CPI today 121.63

Value of Krone over time (by year)

Period Value
1963 100
1964 105.87
1965 110.3
1966 113.89
1967 119.1
1968 123.21
1969 126.86
1970 140.35
1971 149.09
1972 159.91
1973 171.77
1974 187.94
1975 209.91
1976 229.14
1977 250
1978 270.4
1979 282.6
1980 313.34
1981 356.09
1982 396.47
1983 430.04
1984 456.78
1985 482.88
1986 517.54
1987 562.65
1988 600.22
1989 627.5
1990 653.42
1991 675.89
1992 691.63
1993 707.45
1994 717.18
1995 734.83
1996 744.11
1997 763.21
1998 780.4
1999 798.86
2000 823.51
2001 848.25
2002 859.17
2003 880.54
2004 884.54
2005 898.09
2006 919.01
2007 925.56
2008 960.31
2009 981.41
2010 1,005.15
2011 1,018.06
2012 1,025.16
2013 1,046.9
2014 1,068.27
2015 1,091.47
2016 1,130.21
2017 1,151.41
2018 1,183.24
2019 1,208.89
2020 1,224.44
2021 1,267.1
2022-04 1,322.86
Today 1,327.55

All available years

Today's value of norwegian kroner by year:

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 |

Other currencies: