Value of money converter
With the value of money converter, you can calculate the value of a sum of money of a specific year in other years. For example, you can convert the FIM used in 1970 to EUR in 2021. At the end of the page, there are examples of conversions to FIM and EUR.
The converter covers the period 1860 to 2021. However, the year 1914 has been removed due to incomplete data. The current year is not included, because the data for the whole year are known only after the end of the year.
Basis for the calculation
The calculation is based on the Cost-of-living Index 1914:1-6=100, and it takes into account both the 1963 monetary reform and the introduction of the euro in 2002.
The 1963 monetary reform adopted the so-called new Finnish markka, the value of which was 100 old markka, that is, the two zeros at the end were cut in the reform. In 2002, in connection with the changeover to the euro, the Finnish markka was converted to euros with the standard coefficient 5.94573.
The annual change percentage calculated from the overall point figures of the Cost-of-living Index 1914:1-6=100 may differ from the official percentage change figure, because it is calculated from the point figures truncated to two decimal places of each base year in question.
FIM to EUR
Converting FIM used in 1970 to EUR in 2021.
The calculator automatically regards changes in currency units, you only have to enter the values:
Money of which year? 1970 To money of which year? 2021 Amount of money FIM 5.00
Result: Five Finnish markka in 1970 equals EUR 7.62 in 2021.
EUR to FIM
Converting EUR used in 2021 to “old” FIM in 1960.
The calculator automatically regards both changes in currency units and the monetary reform of 1963, you only have to enter the values:
Money of which year? 2021 To money of which year? 1960 Amount of money EUR 100.00
Result: EUR 100 in 2021 equals FIM 4,068.31 in 1960.