Value of 1999 Saudi Riyals today

﷼100 in 1999
﷼172.66 in 2024

The inflation rate in Saudi Arabia between 1999 and today has been 72.66%, which translates into a total increase of ﷼72.66. This means that 100 riyal in 1999 are equivalent to 172.66 riyal in 2024. In other words, the purchasing power of ﷼100 in 1999 equals ﷼172.66 today. The average annual inflation rate between these periods has been 2.21%.

Inflation timeline in Saudi Arabia (1999 - 2024)

The following chart depicts the equivalence of ﷼100 due to compound inflation and CPI changes. All values are equivalent in terms of purchasing 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 extrapolated from the latest 12-month rolling average official data.

The following table contains relevant indicators:

Indicator Value
Cumulative inflation 1999-2023 70.65%
Cumulative inflation 1999-today 72.66%
Avg. Annual inflation 1999-2023 2.25%
CPI 1999 66.51
CPI 2023 113.51
CPI 2024-02 (latest official data) 114.74
CPI today 114.84

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 Consumer Price Index (CPI) formula or the compound interest formula.

Using the CPI formula

When we have both the start and end years, we can use the following formula:

Valuet =Value0 ×
CPIt/CPI0

To obtain the values equivalent in buying power between 1999 and 2023, use the corresponding CPI values:

Value2023
=Value1999 ×
CPI2023/CPI1999
=﷼ 100 ×
113.51/66.51
﷼170.65

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 114.84:

Valuetoday
=Value1999 ×
CPItoday/CPI1999
=﷼ 100 ×
114.84/66.51
﷼172.66

Alternative: Using the compound interest formula

Given that money changes with time as a result of an inflation rate that acts as compound interest, we can use the following formula: 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 24 years between 1999 and 2023 and the average inflation rate was 2.2519%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=﷼100 × (1 + 0.022519)24
﷼170.65

Saudi Arabia inflation - Conversion table

Initial Value Equivalent value
﷼1 riyal in 1999 ﷼1.71 riyal in 2023
﷼5 riyal in 1999 ﷼8.53 riyal in 2023
﷼10 riyal in 1999 ﷼17.07 riyal in 2023
﷼50 riyal in 1999 ﷼85.33 riyal in 2023
﷼100 riyal in 1999 ﷼170.65 riyal in 2023
﷼500 riyal in 1999 ﷼853.27 riyal in 2023
﷼1,000 riyal in 1999 ﷼1,706.53 riyal in 2023
﷼5,000 riyal in 1999 ﷼8,532.65 riyal in 2023
﷼10,000 riyal in 1999 ﷼17,065.3 riyal in 2023
﷼50,000 riyal in 1999 ﷼85,326.52 riyal in 2023
﷼100,000 riyal in 1999 ﷼170,653.04 riyal in 2023
﷼500,000 riyal in 1999 ﷼853,265.21 riyal in 2023
﷼1,000,000 riyal in 1999 ﷼1,706,530.42 riyal in 2023
Cumulative inflation From 1999 72.66%
Avg. annual inflation From 1999 2.21%
CPI 1999 66.51
CPI today 114.84

Value of Riyal over time (by year)

Period Value
1999 100
2000 98.88
2001 97.77
2002 98.01
2003 98.61
2004 99.12
2005 99.59
2006 101.79
2007 106.03
2008 116.5
2009 122.39
2010 128.93
2011 136.44
2012 140.35
2013 145.31
2014 148.56
2015 150.35
2016 153.46
2017 152.17
2018 155.91
2019 152.65
2020 157.91
2021 162.75
2022 166.77
2023 170.65
2024-02 172.5
Today 172.66

All available years

Today's value of saudi riyals by year:

1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |

Other currencies: