Value of 2003 Indonesian Rupiahs today

Rp100 in 2003

Rp295.61 in 2024

The inflation rate in Indonesia between 2003 and today has been 195.61%, which translates into a total increase of Rp195.61. This means that 100 rupiahs in 2003 are equivalent to 295.61 rupiahs in 2024. In other words, the purchasing power of Rp100 in 2003 equals Rp295.61 today. The average annual inflation rate between these periods has been 5.3%.

Inflation timeline in Indonesia (2003 - 2024)

The following chart depicts the equivalence of Rp100 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 (IDR) 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 2003-2023	188.34%
Cumulative inflation 2003-today	195.61%
Avg. Annual inflation 2003-2023	5.44%
CPI 2003	44.32
CPI 2023	127.78
CPI 2024-11 (latest official data)	130.85
CPI today	131

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:

Value_t =Value₀ ×

CPI_t/CPI₀

To obtain the values equivalent in buying power between 2003 and 2023, use the corresponding CPI values:

Value₂₀₂₃

=Value₂₀₀₃ ×

CPI₂₀₂₃/CPI₂₀₀₃

=Rp 100 ×

127.78/44.32

≈Rp288.34

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 131:

Value_today

=Value₂₀₀₃ ×

CPI_today/CPI₂₀₀₃

=Rp 100 ×

131/44.32

≈Rp295.61

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 Rp100 worth today. There are 20 years between 2003 and 2023 and the average inflation rate was 5.4376%. Therefore, we can resolve the formula like this:

Value₂₀₂₃

=PV × (1 + i)ⁿ

=Rp100 × (1 + 0.054376)²⁰

≈Rp288.34

Indonesia inflation - Conversion table

Initial Value		Equivalent value
Rp1 rupiah in 2003	→	Rp2.88 rupiahs in 2023
Rp5 rupiahs in 2003	→	Rp14.42 rupiahs in 2023
Rp10 rupiahs in 2003	→	Rp28.83 rupiahs in 2023
Rp50 rupiahs in 2003	→	Rp144.17 rupiahs in 2023
Rp100 rupiahs in 2003	→	Rp288.34 rupiahs in 2023
Rp500 rupiahs in 2003	→	Rp1,441.72 rupiahs in 2023
Rp1,000 rupiahs in 2003	→	Rp2,883.43 rupiahs in 2023
Rp5,000 rupiahs in 2003	→	Rp14,417.16 rupiahs in 2023
Rp10,000 rupiahs in 2003	→	Rp28,834.33 rupiahs in 2023
Rp50,000 rupiahs in 2003	→	Rp144,171.64 rupiahs in 2023
Rp100,000 rupiahs in 2003	→	Rp288,343.29 rupiahs in 2023
Rp500,000 rupiahs in 2003	→	Rp1,441,716.43 rupiahs in 2023
Rp1,000,000 rupiahs in 2003	→	Rp2,883,432.86 rupiahs in 2023

Cumulative inflation From 2003	195.61%
Avg. annual inflation From 2003	5.3%
CPI 2003	44.32
CPI today	131

Value of Rupiah over time (by year)

Period	Value
2003	100
2004	106.06
2005	117.15
2006	132.51
2007	141
2008	155.42
2009	162.23
2010	170.56
2011	179.7
2012	187.39
2013	199.41
2014	212.16
2015	225.66
2016	233.61
2017	242.51
2018	250.27
2019	257.85
2020	262.8
2021	266.9
2022	278.14
2023	288.34
2024-11	295.28
Today	295.61