Result: $1 in 2004 → $2.85 in 2019
Value of $1 from 2004 to 2019
$1 in 2004 is equivalent in purchasing power to about $2.85 in 2019, an increase of $1.85 over 15 years. The rupee had an average inflation rate of 7.23% per year between 2004 and 2019, producing a cumulative price increase of 184.81%.
This means that prices in 2019 are 2.85 times as high as average prices since 2004, according to the OECD and the World Bank consumer price index for India.
The inflation rate in 2004 was 3.77%. The inflation rate in 2019 was 7.66%. The 2019 inflation rate is higher compared to the average inflation rate of 5.70% per year between 2019 and 2024.
⌃
| Cumulative price change | 184.81% |
| Average inflation rate | 7.23% |
| Converted amount $1 base | $2.85 |
| Price difference $1 base | $1.85 |
| CPI in 2004 | 42.633 |
| CPI in 2019 | 121.422 |
| Inflation in 2004 | 3.77% |
| Inflation in 2019 | 7.66% |
| $1 in 2004 | $2.85 in 2019 |
Buying power of $1 in 2004
This chart shows a calculation of buying power equivalence for $1 in 2004 (price index tracking began in 1957).
For example, if you started with $1, you would need to end with $2.85 in order to "adjust" for inflation (sometimes refered to as "beating inflation").
When $1 is equivalent to $2.85 over time, that means that the "real value" of a single Indian rupee decreases over time. In other words, a rupee will pay for fewer items at the store.
This effect explains how inflation erodes the value of a rupee over time. By calculating the value in 2004 dollars, the chart below shows how $1 is worth less over 15 years.
According to the OECD and the World Bank, each of these INR amounts below is equal in terms of what it could buy at the time:
This conversion table shows various other 2004 amounts in 2019 rupees, based on the 184.81% change in prices:
| Initial value | Equivalent value |
|---|---|
| $1 rupee in 2004 | $2.85 rupees in 2019 |
| $5 rupees in 2004 | $14.24 rupees in 2019 |
| $10 rupees in 2004 | $28.48 rupees in 2019 |
| $50 rupees in 2004 | $142.40 rupees in 2019 |
| $100 rupees in 2004 | $284.81 rupees in 2019 |
| $500 rupees in 2004 | $1,424.04 rupees in 2019 |
| $1,000 rupees in 2004 | $2,848.07 rupees in 2019 |
| $5,000 rupees in 2004 | $14,240.36 rupees in 2019 |
| $10,000 rupees in 2004 | $28,480.72 rupees in 2019 |
| $50,000 rupees in 2004 | $142,403.62 rupees in 2019 |
| $100,000 rupees in 2004 | $284,807.24 rupees in 2019 |
| $500,000 rupees in 2004 | $1,424,036.20 rupees in 2019 |
| $1,000,000 rupees in 2004 | $2,848,072.41 rupees in 2019 |
How to calculate inflation rate for $1, 2004 to 2019
Our calculations use the following inflation rate formula to calculate the change in value between 2004 and 2019:
CPI in 2019 CPI in 2004
×
2004 INR value
=
2019 INR value
Then plug in historical CPI values. The Indian CPI was 42.63294 in the year 2004 and 121.4217 in 2019:
121.421742.63294
×
$1
=
$2.85
$1 in 2004 has the same "purchasing power" or "buying power" as $2.85 in 2019.
To get the total inflation rate for the 15 years between 2004 and 2019, we use the following formula:
CPI in 2019 - CPI in 2004CPI in 2004
×
100
=
Cumulative inflation rate (15 years)
Plugging in the values to this equation, we get:
121.4217 - 42.6329442.63294
×
100
=
185%
Data source & citation
You may use the following MLA citation for this page: “$1 in 2004 → 2019 | India Inflation Calculator.” Official Inflation Data, Alioth Finance, 23 Apr. 2025, https://www.officialdata.org/india/inflation/2004?amount=1&endYear=2019.
Special thanks to QuickChart for their chart image API, which is used for chart downloads.
| Cumulative price change | 184.81% |
| Average inflation rate | 7.23% |
| Converted amount $1 base | $2.85 |
| Price difference $1 base | $1.85 |
| CPI in 2004 | 42.633 |
| CPI in 2019 | 121.422 |
| Inflation in 2004 | 3.77% |
| Inflation in 2019 | 7.66% |
| $1 in 2004 | $2.85 in 2019 |
