You might be interested in calculating the value of ₹1 for the year 1982. Or calculate the value of ₹1 for the year 1987
.₹1 in 1977 is worth ₹31.63 today.
The value of ₹1 from 1977 to 2022
₹1 in 1977 has the purchasing power of about ₹31.63 today, a ₹30.63 increase in 45 years. Between 1977 and today, the rupee experienced an average annual inflation rate of 7.98%, resulting in a cumulative price increase of 3063.02%.
According to the Bureau of Labor Statistics consumer price index, today's prices are several times higher than the average price since 1977.
In 1977, the inflation rate was 8.3075%. Inflation is now 6.08% higher than it was last year. If this figure holds true, ₹1 today will be worth ₹7.08 next year in purchasing power.
Inflation from 1977 to 2022
| Summary | Value |
|---|---|
| Cumulative price change (from 1977 to today) | 3063.02% |
| Average inflation rate (from 1977 to today) | 7.98% |
| Converted amount | ₹31.63 |
| Price Difference | ₹30.63 |
| CPI in 1977 | 292.39 |
| CPI in 2022 | 9248.3472 |
| Inflation in 1977 | 8.3075% |
| Inflation in 2022 | 6.08% |
| ₹1 in 1977 | ₹31.63 in 2022 |
Buying power of ₹1 in 1977
If you had ₹1 in your hand in 1977, its adjusted value for inflation today would be ₹31.63. Put another way, you would need ₹31.63 to beat the rising inflation. When ₹1 becomes equivalent to ₹31.63 over time, the "real value" of a single Indian rupee decreases. In other words, a rupee will pay for fewer items at the store.
This effect explains how inflation gradually erodes the value of a rupee. By calculating the value in 1977 rupees, it's evident how ₹1 loses its worth over 45 years.
Rupee inflation for ₹1 from 1977 to 2022
The below tabular column shows the effect of inflation on ₹1 in the year 1977 to the year 1977.
| Year | Rupee Value | Inflation Rate |
|---|---|---|
| 1977 | 1 | 8.3075% |
| 1978 | 1.03 | 2.52% |
| 1979 | 1.09 | 6.28% |
| 1980 | 1.21 | 11.35% |
| 1981 | 1.37 | 13.11% |
| 1982 | 1.48 | 7.89% |
| 1983 | 1.66 | 11.87% |
| 1984 | 1.79 | 8.32% |
| 1985 | 1.89 | 5.56% |
| 1986 | 2.06 | 8.73% |
| 1987 | 2.24 | 8.80% |
| 1988 | 2.45 | 9.38% |
| 1989 | 2.62 | 7.07% |
| 1990 | 2.86 | 8.97% |
| 1991 | 3.26 | 13.87% |
| 1992 | 3.64 | 11.79% |
| 1993 | 3.87 | 6.33% |
| 1994 | 4.27 | 10.25% |
| 1995 | 4.7 | 10.22% |
| 1996 | 5.12 | 8.9772% |
| 1997 | 5.49 | 7.1643% |
| 1998 | 6.22 | 13.2308% |
| 1999 | 6.51 | 4.6698% |
| 2000 | 6.77 | 4.0094% |
| 2001 | 7.03 | 3.77% |
| 2002 | 7.33 | 4.30% |
| 2003 | 7.61 | 3.81% |
| 2004 | 7.89 | 3.7673% |
| 2005 | 8.23 | 4.2463% |
| 2006 | 8.71 | 5.7965% |
| 2007 | 9.26 | 6.3729% |
| 2008 | 10.03 | 8.3493% |
| 2009 | 11.13 | -0.36% |
| 2010 | 12.46 | 1.64% |
| 2011 | 13.57 | 8.91% |
| 2012 | 14.86 | 9.47% |
| 2013 | 16.34 | 10.01% |
| 2014 | 17.43 | 6.66% |
| 2015 | 18.29 | 4.907% |
| 2016 | 19.19 | 4.95% |
| 2017 | 19.83 | 3.33% |
| 2018 | 20.61 | 3.94% |
| 2019 | 21.38 | 3.73% |
| 2020 | 22.8 | 6.62% |
| 2021 | 23.97 | 5.13% |
| 2022 | 25.43 | 6.08% |
Conversion of 1977 rupees to today's price
Based on the 3063.02% change in prices, the following 1977 amounts are shown in today's rupees:
| Initial value | Today value |
|---|---|
| ₹1 rupee in 1977 | ₹31.63 rupees today |
| ₹5 rupees in 1977 | ₹158.15 rupees today |
| ₹10 rupees in 1977 | ₹316.3 rupees today |
| ₹50 rupees in 1977 | ₹1581.51 rupees today |
| ₹100 rupees in 1977 | ₹3163.02 rupees today |
| ₹500 rupees in 1977 | ₹15815.09 rupees today |
| ₹1,000 rupees in 1977 | ₹31630.18 rupees today |
| ₹5,000 rupees in 1977 | ₹158150.88 rupees today |
| ₹10,000 rupees in 1977 | ₹316301.76 rupees today |
| ₹50,000 rupees in 1977 | ₹1581508.81 rupees today |
| ₹100,000 rupees in 1977 | ₹3163017.61 rupees today |
| ₹500,000 rupees in 1977 | ₹15815088.07 rupees today |
| ₹1,000,000 rupees in 1977 | ₹31630176.13 rupees today |
How to calculate the inflated value of ₹1 in 1977
To calculate the change in value between 1977 and today, we use the following inflation rate formula:
CPI Today / CPI in 1977 x Rupee Value in 1977 = Current Rupee Value
By plugging the values into the formula above, we get:
9248.3472/ 292.39 x ₹1 = ₹31.63
To buy the same product that you could buy for ₹1 in 1977, you would need ₹31.63 in 2022.
To calculate the cumulative or total inflation rate in the past 45 years between 1977 and 2022, we use the following formula:
CPI in 2022 - CPI in 1977 / CPI in 1977 x 100 = Cumulative Inflation Rate
By inserting the values to this equation, we get:
( 9248.3472 - 292.39 / 292.39) x 100 = 3063.02%
Alternate method to calculate today's value of money after inflation - Using compound interest formula
Given that money changes over time due to inflation, which acts as compound interest, we can use the following formula:
FV = PV (1+i/100)^n
where,
- FV = Future value
- PV = Present value
- i: Average interest rate (inflation)
- n: Number of times the interest is compounded (i.e. # of years)
The future value in this case represents the amount obtained after applying the inflation rate to our initial value. In other words, it indicates how much ₹1 is worth today. We have 45 years between 2022 and 1977. The average inflation rate was 7.9780776367025%.
Plugging in the values into the formula, we get:
1 (1+ % 7.98/ 100 ) ^ 45 = ₹31.63