kr

Value of 1993 Norwegian Kroner today

kr100 in 1993
kr200.08 in 2023

The inflation rate in Norway between 1993 and today has been 100.08%, which translates into a total increase of kr100.08. This means that 100 kroner in 1993 are equivalent to 200.08 kroner in 2023. In other words, the purchasing power of kr100 in 1993 equals kr200.08 today. The average annual inflation rate between these periods has been 2.34%.

Inflation timeline in Norway (1993 - 2023)

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 1993-2022 89.43%
Cumulative inflation 1993-today 100.08%
Avg. Annual inflation 1993-2022 2.23%
CPI 1993 64.82
CPI 2022 122.78
CPI 2023-04 (latest official data) 129
CPI today 129.68

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 1993 and 2022, use the corresponding CPI values:

Value2022
=Value1993 ×
CPI2022/CPI1993
=kr 100 ×
122.78/64.82
kr189.43

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 129.68:

Valuetoday
=Value1993 ×
CPItoday/CPI1993
=kr 100 ×
129.68/64.82
kr200.08

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 29 years between 1993 and 2022 and the average inflation rate was 2.2274%. Therefore, we can resolve the formula like this:

Value2022
=PV × (1 + i)n
=kr100 × (1 + 0.022274)29
kr189.43

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1993 kr1.89 kroner in 2022
kr5 kroner in 1993 kr9.47 kroner in 2022
kr10 kroner in 1993 kr18.94 kroner in 2022
kr50 kroner in 1993 kr94.72 kroner in 2022
kr100 kroner in 1993 kr189.43 kroner in 2022
kr500 kroner in 1993 kr947.16 kroner in 2022
kr1,000 kroner in 1993 kr1,894.32 kroner in 2022
kr5,000 kroner in 1993 kr9,471.58 kroner in 2022
kr10,000 kroner in 1993 kr18,943.17 kroner in 2022
kr50,000 kroner in 1993 kr94,715.83 kroner in 2022
kr100,000 kroner in 1993 kr189,431.67 kroner in 2022
kr500,000 kroner in 1993 kr947,158.35 kroner in 2022
kr1,000,000 kroner in 1993 kr1,894,316.69 kroner in 2022
Cumulative inflation From 1993 100.08%
Avg. annual inflation From 1993 2.34%
CPI 1993 64.82
CPI today 129.68

Value of Krone over time (by year)

Period Value
1993 100
1994 101.38
1995 103.87
1996 105.18
1997 107.88
1998 110.31
1999 112.92
2000 116.41
2001 119.9
2002 121.45
2003 124.47
2004 125.03
2005 126.95
2006 129.9
2007 130.83
2008 135.74
2009 138.72
2010 142.08
2011 143.91
2012 144.91
2013 147.98
2014 151
2015 154.28
2016 159.76
2017 162.75
2018 167.25
2019 170.88
2020 173.08
2021 179.11
2022 189.43
2023-04 199.02
Today 200.08

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 | 2022 |

Other currencies: