kr

Value of 1968 Norwegian Kroner today

kr100 in 1968
kr1,082.27 in 2022

The inflation rate in Norway between 1968 and today has been 982.27%, which translates into a total increase of kr982.27. This means that 100 kroner in 1968 are equivalent to 1,082.27 kroner in 2022. In other words, the purchasing power of kr100 in 1968 equals kr1,082.27 today. The average annual inflation rate between these periods has been 4.51%.

Inflation timeline in Norway (1968 - 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 1968-2021 928.43%
Cumulative inflation 1968-today 982.27%
Avg. Annual inflation 1968-2021 4.5%
CPI 1968 11.29
CPI 2021 116.09
CPI 2022-05 (latest official data) 121.5
CPI today 122.17

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 1968 and 2021, use the corresponding CPI values:

Value2021
=Value1968 ×
CPI2021/CPI1968
=kr 100 ×
116.09/11.29
kr1,028.43

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 122.17:

Valuetoday
=Value1968 ×
CPItoday/CPI1968
=kr 100 ×
122.17/11.29
kr1,082.27

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 kr100 worth today. There are 53 years between 1968 and 2021 and the average inflation rate was 4.4955%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=kr100 × (1 + 0.044955)53
kr1,028.43

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1968 kr10.28 kroner in 2021
kr5 kroner in 1968 kr51.42 kroner in 2021
kr10 kroner in 1968 kr102.84 kroner in 2021
kr50 kroner in 1968 kr514.22 kroner in 2021
kr100 kroner in 1968 kr1,028.43 kroner in 2021
kr500 kroner in 1968 kr5,142.15 kroner in 2021
kr1,000 kroner in 1968 kr10,284.3 kroner in 2021
kr5,000 kroner in 1968 kr51,421.52 kroner in 2021
kr10,000 kroner in 1968 kr102,843.05 kroner in 2021
kr50,000 kroner in 1968 kr514,215.24 kroner in 2021
kr100,000 kroner in 1968 kr1,028,430.47 kroner in 2021
kr500,000 kroner in 1968 kr5,142,152.36 kroner in 2021
kr1,000,000 kroner in 1968 kr10,284,304.73 kroner in 2021
Cumulative inflation From 1968 982.27%
Avg. annual inflation From 1968 4.51%
CPI 1968 11.29
CPI today 122.17

Value of Krone over time (by year)

Period Value
1968 100
1969 102.96
1970 113.92
1971 121.01
1972 129.79
1973 139.42
1974 152.54
1975 170.37
1976 185.98
1977 202.91
1978 219.47
1979 229.37
1980 254.32
1981 289.02
1982 321.8
1983 349.04
1984 370.74
1985 391.93
1986 420.05
1987 456.67
1988 487.16
1989 509.31
1990 530.35
1991 548.58
1992 561.35
1993 574.2
1994 582.1
1995 596.42
1996 603.95
1997 619.45
1998 633.4
1999 648.39
2000 668.39
2001 688.47
2002 697.33
2003 714.68
2004 717.93
2005 728.93
2006 745.91
2007 751.22
2008 779.42
2009 796.55
2010 815.82
2011 826.3
2012 832.06
2013 849.7
2014 867.05
2015 885.88
2016 917.33
2017 934.53
2018 960.36
2019 981.18
2020 993.81
2021 1,028.43
2022-05 1,076.34
Today 1,082.27

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 |

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