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Value of 1993 Norwegian Kroner today

kr100 in 1993
kr187.49 in 2022

The inflation rate in Norway between 1993 and today has been 87.49%, which translates into a total increase of kr87.49. This means that 100 kroner in 1993 are equivalent to 187.49 kroner in 2022. In other words, the purchasing power of kr100 in 1993 equals kr187.49 today. The average annual inflation rate between these periods has been 2.19%.

Inflation timeline in Norway (1993 - 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 1993-2021 79.11%
Cumulative inflation 1993-today 87.49%
Avg. Annual inflation 1993-2021 2.1%
CPI 1993 64.82
CPI 2021 116.09
CPI 2022-04 (latest official data) 121.2
CPI today 121.52

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 2021, use the corresponding CPI values:

Value2021
=Value1993 ×
CPI2021/CPI1993
=kr 100 ×
116.09/64.82
kr179.11

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 121.52:

Valuetoday
=Value1993 ×
CPItoday/CPI1993
=kr 100 ×
121.52/64.82
kr187.49

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 28 years between 1993 and 2021 and the average inflation rate was 2.1033%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=kr100 × (1 + 0.021033)28
kr179.11

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1993 kr1.79 kroner in 2021
kr5 kroner in 1993 kr8.96 kroner in 2021
kr10 kroner in 1993 kr17.91 kroner in 2021
kr50 kroner in 1993 kr89.55 kroner in 2021
kr100 kroner in 1993 kr179.11 kroner in 2021
kr500 kroner in 1993 kr895.54 kroner in 2021
kr1,000 kroner in 1993 kr1,791.08 kroner in 2021
kr5,000 kroner in 1993 kr8,955.39 kroner in 2021
kr10,000 kroner in 1993 kr17,910.78 kroner in 2021
kr50,000 kroner in 1993 kr89,553.89 kroner in 2021
kr100,000 kroner in 1993 kr179,107.78 kroner in 2021
kr500,000 kroner in 1993 kr895,538.91 kroner in 2021
kr1,000,000 kroner in 1993 kr1,791,077.82 kroner in 2021
Cumulative inflation From 1993 87.49%
Avg. annual inflation From 1993 2.19%
CPI 1993 64.82
CPI today 121.52

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
2022-04 186.99
Today 187.49

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: