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Appendix 1 - Historic Currency Prices

from APPENDICES

Published online by Cambridge University Press:  18 November 2022

Stephen Winter
Stephen Winter
Affiliation:
University of Auckland

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Monetary Redress for Abuse in State Care , pp. 251 - 254
Publisher: Cambridge University Press
Print publication year: 2022
Creative Commons
Creative Common License - CCCreative Common License - BYCreative Common License - NC
This content is Open Access and distributed under the terms of the Creative Commons Attribution licence CC-BY-NC 4.0 https://creativecommons.org/cclicenses/

Appendix 1 Historic Currency Prices

This table of conversion factors provides readers with a guide to the historic value of currencies. The table displays factors the reader can use to convert monetary values given in the text to 2021 USD.

I derived the factors in the table as follows. First, I deflated the historic value of the currency by the GDP implicit price deflation factor for each year. That figure was converted into a percentage representing the historic value as a percent of the currency’s value in 2021. That inflated value was then multiplied by a conversion factor for 2021 USD. The 2021 USD conversion factors are:Footnote 1

AUD = 0.76382GBP = 1.40152
CDN = 0.81780NZD = 0.70997
EURO = 1.20393SEK = 0.11901

Historic GDP implicit prices were obtained from the Federal Reserve Bank of St. Louis, a component of the United States’ Federal Reserve System.Footnote 2 The prices for Euros is relative to Irish inflation as distinct from that of other European jurisdictions.

YEARAUDCDNIRISH €GBPNZDSEKUSD
19951.222481.21160No Data2.149121.042040.162851.47120
19961.212061.20211No Data2.109231.030630.161961.45885
19971.207931.196451.766542.112641.030500.160601.44583
19981.203341.199211.716032.097121.024650.159871.43729
19991.196321.182551.680082.083861.020650.159051.42722
20001.171271.157361.621192.066931.010260.157671.40852
20011.157691.153641.558412.048080.992310.155361.39119
20021.143241.140901.507662.026690.983230.153881.37943
20031.127761.121281.467391.997720.976420.152231.36319
20041.108431.098971.461851.969770.955500.151911.34003
20051.080141.077551.428801.934800.942640.151231.31241
20061.050501.060051.390851.902040.936840.149481.28487
20071.026711.041441.377071.868950.902660.146611.26182
20080.974831.000391.382891.829690.888840.143241.24275
20090.988751.028051.436171.808150.877500.140711.24161
20100.939991.009721.468901.790580.858300.139661.22833
20110.905950.982281.452921.763820.838830.138451.20520
20120.915800.973001.428181.742520.846030.137331.18885
20130.904980.957881.417741.712460.817090.136271.17209
20140.907030.940721.418371.690630.808200.134281.15138
20150.908580.947841.332291.863500.803590.131801.14126
20160.900570.943251.323811.656860.791420.129991.13186
20170.874780.926461.312581.630880.766030.127411.11212
20180.853180.905381.303871.601820.755950.124451.08519
20190.823790.897691.251801.571930.737980.121231.06598
20200.824060.886601.267371.483210.722810.119011.05227
20210.763820.817801.203931.401520.709970.119011.00000

To illustrate the table’s use, Chapter 7 gives the maximum payment value for New Zealand’s HCP’s Fast Track process as NZD$50,000. Most fast track payments were made in 2015, therefore, to understand the relative 2021 USD value, the reader would multiply 50,000 by the 2015 NZD conversion factor (0.80359):

0.80359 X 50,000 = 2021 USD$40,179.50.

If the reader wishes to know 2021 values in the original currency, they can revert to online calculators offered by national institutions:

1 30 June 2021 USD conversions from https://www.ofx.com/

2 The price date for each currency is 1 July of the respective year for Australia, Canada, New Zealand, and the USA. British, Swedish, and Irish prices are taken at 1 January.

Footnotes

1 30 June 2021 USD conversions from https://www.ofx.com/

2 The price date for each currency is 1 July of the respective year for Australia, Canada, New Zealand, and the USA. British, Swedish, and Irish prices are taken at 1 January.

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  • Historic Currency Prices
  • Stephen Winter, University of Auckland
  • Book: Monetary Redress for Abuse in State Care
  • Online publication: 18 November 2022
  • Chapter DOI: https://doi.org/10.1017/9781009082662.019
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  • Historic Currency Prices
  • Stephen Winter, University of Auckland
  • Book: Monetary Redress for Abuse in State Care
  • Online publication: 18 November 2022
  • Chapter DOI: https://doi.org/10.1017/9781009082662.019
Available formats
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  • Historic Currency Prices
  • Stephen Winter, University of Auckland
  • Book: Monetary Redress for Abuse in State Care
  • Online publication: 18 November 2022
  • Chapter DOI: https://doi.org/10.1017/9781009082662.019
Available formats
×