Value of 1998 Russian Rubles today

₽100 in 1998
₽1,698.36 in 2022

The inflation rate in Russia between 1998 and today has been 1,598.36%, which translates into a total increase of ₽1,598.36. This means that 100 rubles in 1998 are equivalent to 1,698.36 rubles in 2022. In other words, the purchasing power of ₽100 in 1998 equals ₽1,698.36 today. The average annual inflation rate between these periods has been 12.53%.

Inflation timeline in Russia (1998 - 2022)

The following chart depicts the equivalence of ₽100 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 (RUB) 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 1998-2021 1,354.34%
Cumulative inflation 1998-today 1,598.36%
Avg. Annual inflation 1998-2021 12.34%
CPI 1998 9.05
CPI 2021 131.57
CPI 2022-03 (latest official data) 150.35
CPI today 153.65

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 1998 and 2021, use the corresponding CPI values:

Value2021
=Value1998 ×
CPI2021/CPI1998
=₽ 100 ×
131.57/9.05
₽1,454.34

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 153.65:

Valuetoday
=Value1998 ×
CPItoday/CPI1998
=₽ 100 ×
153.65/9.05
₽1,698.36

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 ₽100 worth today. There are 23 years between 1998 and 2021 and the average inflation rate was 12.3442%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=₽100 × (1 + 0.123442)23
₽1,454.34

Russia inflation - Conversion table

Initial Value Equivalent value
₽1 ruble in 1998 ₽14.54 rubles in 2021
₽5 rubles in 1998 ₽72.72 rubles in 2021
₽10 rubles in 1998 ₽145.43 rubles in 2021
₽50 rubles in 1998 ₽727.17 rubles in 2021
₽100 rubles in 1998 ₽1,454.34 rubles in 2021
₽500 rubles in 1998 ₽7,271.72 rubles in 2021
₽1,000 rubles in 1998 ₽14,543.44 rubles in 2021
₽5,000 rubles in 1998 ₽72,717.22 rubles in 2021
₽10,000 rubles in 1998 ₽145,434.44 rubles in 2021
₽50,000 rubles in 1998 ₽727,172.21 rubles in 2021
₽100,000 rubles in 1998 ₽1,454,344.42 rubles in 2021
₽500,000 rubles in 1998 ₽7,271,722.11 rubles in 2021
₽1,000,000 rubles in 1998 ₽14,543,444.21 rubles in 2021
Cumulative inflation From 1998 1,598.36%
Avg. annual inflation From 1998 12.53%
CPI 1998 9.05
CPI today 153.65

Value of Ruble over time (by year)

Period Value
1998 100
1999 185.75
2000 224.38
2001 272.57
2002 315.6
2003 358.73
2004 397.79
2005 448.25
2006 491.59
2007 535.87
2008 611.48
2009 682.7
2010 729.46
2011 791.03
2012 831.18
2013 887.31
2014 956.73
2015 1,105.35
2016 1,183.19
2017 1,226.78
2018 1,262.09
2019 1,318.51
2020 1,363.09
2021 1,454.34
2022-03 1,661.86
Today 1,698.36

All available years

Today's value of russian rubles by year:

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: