The Nobel Foundation said Friday it would increase the values of the 1992 Nobel Prizes by 8 percent from last year, to more than $1 million.
The increase to 6.5 million kronor would make the prizes, already the world's richest, worth $1.087 million at the current exchange rate.The Nobel Foundation administers a fund created by the will of Swedish dynamite inventor Alfred Nobel, who died in 1896. The Swedish Central Bank funds the economics prizes, which began in 1969.
The 1992 award increase was made possible by a 6 percent rise in operating profit on investments, the foundation said.