Value of 1998 Saudi Riyals today

﷼100 in 1998

﷼152.59 in 2019

The inflation rate in Saudi Arabia between 1998 and today has been 52.59%, which translates into a total increase of ﷼52.59. This means that 100 riyal in 1998 are equivalent to 152.59 riyal in 2019. In other words, the purchasing power of ﷼100 in 1998 equals ﷼152.59 today. The average annual inflation rate has been 1.94%.

Inflation timeline in Saudi Arabia (1998-2019)

The following chart ilustrates the equivalence of ﷼100 throughout the years due to inflation and CPI changes. All values are equivalent in terms of purchashing power, which means that for each year the same goods or services could be bought with the indicated amount of money.

All calculations are performed in the local currency (SAR) and using 6 decimal digits. Results show only up to 2 decimal digits to favour readability. Inflation data is provided by governments and international institutions on a monthly basis. Today's values were obtained by estimating figures from recent trends.

The following table contains relevant indicators:

Indicator Value
Total Inflation (1998-2019) 52.35%
Total Inflation* 52.59%
Annual inflation avg. (1998-2019) 2.02%
Annual inflation avg.* 1.94%
CPI 1998 67.36
CPI 2019 102.63
CPI today* 102.79
﷼1 in 1998 ﷼1.52 in 2019

* Values extrapolated from the last official data to obtain today's values.

How to calculate today's value of money after inflation?

There are several ways to calculate the time value of money. Depending on the data available, results can be obtained by using the compound interest formula or the Consumer Price Index (CPI) formula.

Using the compound interest formula

Given that money changes in time as a result of an inflation rate that acts as a compound interest, the following formula can be used: FV = PV (1 + i)n, where:

  • FV: Future Value
  • PV: Present Value
  • i: Interest rate (inflation)
  • n: Number of times the interest is compounded (i.e. # of years)

In this case, the future value represents the final amount obtained after applying the inflation rate to our initial value. In other words, it indicates how much are ﷼100 worth today. There are 21 years between 1998 and 2019 and the average inflation rate has been 1.9394%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = ﷼100 * (1 + 0.02)21 = ﷼152.35

Using the CPI formula

When the CPI for both start and end years is known, the following formula can be used:

Final value = Initial value *
CPI final/CPI initial

In this case, the CPI in 1998 was 67.36 and the CPI today is 102.79. Therefore,

Final value = Initial value *
CPI final/CPI initial
= ﷼100 *
102.63/67.36
= ﷼152.35

Saudi Arabia inflation - Conversion table

Initial Value Equivalent value
﷼1 riyal in 1998 ﷼1.53 riyal today
﷼5 riyal in 1998 ﷼7.63 riyal today
﷼10 riyal in 1998 ﷼15.26 riyal today
﷼50 riyal in 1998 ﷼76.29 riyal today
﷼100 riyal in 1998 ﷼152.59 riyal today
﷼500 riyal in 1998 ﷼762.95 riyal today
﷼1,000 riyal in 1998 ﷼1,525.89 riyal today
﷼5,000 riyal in 1998 ﷼7,629.46 riyal today
﷼10,000 riyal in 1998 ﷼15,258.92 riyal today
﷼50,000 riyal in 1998 ﷼76,294.61 riyal today
﷼100,000 riyal in 1998 ﷼152,589.23 riyal today
﷼500,000 riyal in 1998 ﷼762,946.13 riyal today
﷼1,000,000 riyal in 1998 ﷼1,525,892.27 riyal today

Value of Riyal in time (by year)

Period Value
1998 100
1999 99.05
2000 98.84
2001 97.06
2002 96.47
2003 97.16
2004 97.75
2005 98.14
2006 99.33
2007 102.19
2008 108.81
2009 118.58
2010 123.62
2011 130.33
2012 136.28
2013 141.16
2014 144.74
2015 147.47
2016 149.34
2017 150.77
2018 149.08
2019 152.35
Today 152.59