The CuCoPy package provides methods for exchanging currencies and adjusting monetary values for inflation until 1960 on a yearly basis.
- adjust money for inflation (1960 - last calendar year)
- exchange currencies from 260+ countries
CuCoPy can be installed into a new environment with the following command
mamba create -n -c conda-forge cucopy_env cucopy
Or can be installed into an exisitng and activated environment with
mamba install -c conda-forge cucopy
Note on Mamba vs.Conda: mamba
commands can be substitued with conda
. We highly recommend using (Micro-)Mamba instead of Conda. The recommended way to use Mamba on your system is to install the Miniforge distribution. They offer installers for Windows, Linux and OS X. In principle, Conda and Mamba are interchangeable. The commands and concepts are the same. The distributions differ in the methodology for determining dependencies when installing Python packages. Mamba relies on a more modern methodology, which (with the same result) leads to very significant time savings during the installation of ETHOS.FINE. Switching to Mamba usually does not lead to any problems, as it is virtually identical to Conda in terms of operation.
First create a new environment that contains python and pip
mamba create -n cucopy_env python pip
Activate the environment
mamba activate cucopy_env
CuCoPy can be installed directly via pip:
pip install cucopy
Note on using pip within a conda environment To install packages within a conda environment pip must already be installed in that environment. Please see this Stack Overflow post and this Anaconda Article.
Alternatively, it can also be installed via git - this will preserve the connection to the GitHub repository:
git clone https://github.com/FZJ-IEK3-VSA/CuCoPy
Change the directory into the new repository
cd cucopy
Create a new environment with all necessary conda depenendcies
mamba env create --file=environment.yml
Install the local package in development mode
pip install -e . --no-deps
Then install CuCoPy via python as follows
pip install -e .
In the following code snippet, a value from 2010 is given in Euros and its remaining purchasing power in 2021 is to be calculated:
from cucopy import Currency
# Here, the ISO code may be omitted as the CuCoPy package defaults to "de" (Euro)
de_cur = Currency(recording_year="2010", value=500, iso="de")
de_cur.set_target_year("2021")
remaining_pp = de_cur.get_purchasing_power()
>> 492.9009...
Subsequently one might also want to get the equivalent worth of an earlier recorded value:
...
gb_cur = Currency(recording_year="1999", value=100, iso="gb")
gb_cur.set_target_year("2000")
equiv_worth = gb_cur.get_equivalent_worth()
>> 101.1829...
Note: the preceding example is taken from the UK Parliament's statistical literacy guide "How to adjust for inflation", which provided formulas on working with the consumer price index (CPI) and inflation rates.
To exchange monetary values between currencies, the target currency's ISO code has to be provided:
...
de_cur = Currency("2015", 500)
de_cur.set_target_currency("us")
exchanged_val = de_cur.get_exchanged_value()
>> 554.7564...
A workflow to adjust for inflation and exchange the newly-adjusted value might look like this:
...
recording_year = "2015"
recording_value = 100
recording_iso = "de"
target_iso = "us"
target_year = "2020"
recording_cur = Currency(recording_year, recording_value, recording_iso)
recording_cur.set_target_year(target_year)
adjusted_value = recording_cur.get_equivalent_worth()
>> 105.8093...
recording_cur.set_value(adjusted_value)
recording_cur.set_recording_year(target_year)
recording_cur.set_target_currency(target_iso)
recording_cur.get_exchanged_value()
>> 120.8549...
MIT License
Copyright (c) 2021-2022 Julian Schönau (FZJ/IEK-3), Patrick Kuckertz (FZJ/IEK-3), Jann Weinand (FZJ/IEK-3), Leander Kotzur (FZJ/IEK-3), Detlef Stolten (FZJ/IEK-3)
You should have received a copy of the MIT License along with this program. If not, see https://opensource.org/licenses/MIT
We are the Institute of Energy and Climate Research - Techno-economic Systems Analysis (IEK-3) belonging to the Forschungszentrum Jülich. Our interdisciplinary department's research is focusing on energy-related process and systems analyses. Data searches and system simulations are used to determine energy and mass balances, as well as to evaluate performance, emissions and costs of energy systems. The results are used for performing comparative assessment studies between the various systems. Our current priorities include the development of energy strategies, in accordance with the German Federal Government’s greenhouse gas reduction targets, by designing new infrastructures for sustainable and secure energy supply chains and by conducting cost analysis studies for integrating new technologies into future energy market frameworks.The CuCoPy package relies heavily on the datasets made available by the World Bank Group and the International Monetary Fund (IMF), but is neither affiliated with or endorsed by either parties.
The World Bank API provides extensive information about consumer price indices and is used under the CC BY 4.0 license. Its terms of use can be accessed here: https://data.worldbank.org/summary-terms-of-use, https://creativecommons.org/licenses/by/4.0/
The IMF API provides information on international exchange rates and is used for research purposes. Their terms can be accessed here: https://www.imf.org/external/terms.htm
This work is supported by the Federal Ministry for Economic Affairs and Climate Action (BMWK) with a grant for the project LOD-GEOSS (03EI1005B).