Value of 1993 Norwegian Kroner today

kr100 in 1993

kr172.43 in 2019

The inflation rate in Norway between 1993 and today has been 72.43%, which translates into a total increase of kr72.43. This means that 100 kroner in 1993 are equivalent to 172.43 kroner in 2019. In other words, the purchasing power of kr100 in 1993 equals kr172.43 today. The average annual inflation rate has been 2.04%.

Inflation timeline in Norway (1993-2019)

The following chart ilustrates the equivalence of kr100 throughout the years due to inflation and CPI changes. All values are equivalent in terms of purchashing 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 (1993-2019) 72.1%
Total Inflation* 72.43%
Annual inflation avg. (1993-2019) 2.11%
Annual inflation avg.* 2.04%
CPI 1993 63.8
CPI 2019 109.8
CPI today* 110.01
kr1 in 1993 kr1.72 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 26 years between 1993 and 2019 and the average inflation rate has been 2.0384%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = kr100 * (1 + 0.02)26 = kr172.1

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 1993 was 63.8 and the CPI today is 110.01. Therefore,

Final value = Initial value *
CPI final/CPI initial
= kr100 *
109.8/63.8
= kr172.1

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1993 kr1.72 kroner today
kr5 kroner in 1993 kr8.62 kroner today
kr10 kroner in 1993 kr17.24 kroner today
kr50 kroner in 1993 kr86.22 kroner today
kr100 kroner in 1993 kr172.43 kroner today
kr500 kroner in 1993 kr862.17 kroner today
kr1,000 kroner in 1993 kr1,724.34 kroner today
kr5,000 kroner in 1993 kr8,621.69 kroner today
kr10,000 kroner in 1993 kr17,243.37 kroner today
kr50,000 kroner in 1993 kr86,216.87 kroner today
kr100,000 kroner in 1993 kr172,433.74 kroner today
kr500,000 kroner in 1993 kr862,168.68 kroner today
kr1,000,000 kroner in 1993 kr1,724,337.36 kroner today

Value of Krone in time (by year)

Period Value
1993 100
1994 101.88
1995 103.76
1996 105.96
1997 107.84
1998 110.34
1999 113.01
2000 116.14
2001 119.59
2002 122.1
2003 125.39
2004 126.18
2005 127.59
2006 129.94
2007 132.76
2008 136.52
2009 139.5
2010 142.32
2011 146.24
2012 146.39
2013 148.43
2014 151.41
2015 154.55
2016 158.15
2017 163.64
2018 166.3
2019 172.1
Today 172.43