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Value of 1934 New Zealand Dollars today

$100 in 1934
$7,746.45 in 2024

The inflation rate in New Zealand between 1934 and today has been 7,646.45%, which translates into a total increase of $7,646.45. This means that 100 dollars in 1934 are equivalent to 7,746.45 dollars in 2024. In other words, the purchasing power of $100 in 1934 equals $7,746.45 today. The average annual inflation rate between these periods has been 4.95%.

Inflation timeline in New Zealand (1934 - 2024)

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 (NZD) 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 1934-2023 7,312.68%
Cumulative inflation 1934-today 7,646.45%
Avg. Annual inflation 1934-2023 4.96%
CPI 1934 1.71
CPI 2023 126.79
CPI 2024-Q3 (latest official data) 130.86
CPI today 132.5

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 1934 and 2023, use the corresponding CPI values:

Value2023
=Value1934 ×
CPI2023/CPI1934
=$ 100 ×
126.79/1.71
$7,412.68

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 132.5:

Valuetoday
=Value1934 ×
CPItoday/CPI1934
=$ 100 ×
132.5/1.71
$7,746.45

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 89 years between 1934 and 2023 and the average inflation rate was 4.9569%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=$100 × (1 + 0.049569)89
$7,412.68

New Zealand inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1934 $74.13 dollars in 2023
$5 dollars in 1934 $370.63 dollars in 2023
$10 dollars in 1934 $741.27 dollars in 2023
$50 dollars in 1934 $3,706.34 dollars in 2023
$100 dollars in 1934 $7,412.68 dollars in 2023
$500 dollars in 1934 $37,063.39 dollars in 2023
$1,000 dollars in 1934 $74,126.79 dollars in 2023
$5,000 dollars in 1934 $370,633.94 dollars in 2023
$10,000 dollars in 1934 $741,267.89 dollars in 2023
$50,000 dollars in 1934 $3,706,339.43 dollars in 2023
$100,000 dollars in 1934 $7,412,678.87 dollars in 2023
$500,000 dollars in 1934 $37,063,394.35 dollars in 2023
$1,000,000 dollars in 1934 $74,126,788.69 dollars in 2023
Cumulative inflation From 1934 7,646.45%
Avg. annual inflation From 1934 4.95%
CPI 1934 1.71
CPI today 132.5

Value of Dollar over time (by year)

Period Value
1934 100
1935 103.74
1936 106.68
1937 114.17
1938 117.51
1939 122.89
1940 127.99
1941 132.76
1942 137.09
1943 140.43
1944 142.87
1945 144.82
1946 145.93
1947 150.73
1948 162.51
1949 165.2
1950 174.62
1951 193.87
1952 208.9
1953 218.36
1954 228.43
1955 234.17
1956 242.33
1957 247.6
1958 258.61
1959 268.51
1960 270.38
1961 275.24
1962 282.62
1963 288.19
1964 298.2
1965 308.33
1966 316.83
1967 336.02
1968 350.51
1969 367.77
1970 391.74
1971 432.43
1972 462.41
1973 500.17
1974 555.74
1975 637.35
1976 745.1
1977 852.28
1978 954.18
1979 1,084.9
1980 1,270.96
1981 1,466.31
1982 1,703.32
1983 1,828.36
1984 1,941.2
1985 2,240.48
1986 2,536.53
1987 2,935.89
1988 3,123.06
1989 3,301.57
1990 3,502.92
1991 3,594.08
1992 3,630.54
1993 3,677.31
1994 3,741.49
1995 3,881.98
1996 3,970.71
1997 4,017.85
1998 4,068.69
1999 4,064.04
2000 4,170.32
2001 4,279.83
2002 4,394.4
2003 4,471.46
2004 4,573.87
2005 4,712.78
2006 4,871.38
2007 4,987.13
2008 5,184.57
2009 5,294.26
2010 5,416.13
2011 5,634.29
2012 5,694.01
2013 5,758.6
2014 5,829.29
2015 5,846.35
2016 5,884.13
2017 5,993.04
2018 6,088.82
2019 6,187.44
2020 6,293.53
2021 6,541.56
2022 7,010.74
2023 7,412.68
2024-Q3 7,650.25
Today 7,746.45

All available years

Today's value of New Zealand dollars by year:

1926 | 1927 | 1928 | 1929 | 1930 | 1931 | 1932 | 1933 | 1934 | 1935 | 1936 | 1937 | 1938 | 1939 | 1940 | 1941 | 1942 | 1943 | 1944 | 1945 | 1946 | 1947 | 1948 | 1949 | 1950 | 1951 | 1952 | 1953 | 1954 | 1955 | 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 | 2023 |

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