Value of 2004 Saudi Riyals today

﷼100 in 2004

﷼156.02 in 2019

The inflation rate in Saudi Arabia between 2004 and today has been 56.02%, which translates into a total increase of ﷼56.02. This means that 100 riyal in 2004 are equivalent to 156.02 riyal in 2019. In other words, the purchasing power of ﷼100 in 2004 equals ﷼156.02 today. The average annual inflation rate has been 2.82%.

Inflation timeline in Saudi Arabia (2004-2019)

The following chart depicts the equivalence of ﷼100 throughout the years due to 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 obtained by estimating figures from recent trends.

The following table contains relevant indicators:

Indicator Value
Total Inflation (2004-2019) 55.86%
Total Inflation* 56.02%
Annual inflation avg. (2004-2019) 3%
Annual inflation avg.* 2.82%
CPI 2004 65.85
CPI 2019 102.63
CPI today* 102.73
﷼1 in 2004 ﷼1.56 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 15 years between 2004 and 2019 and the average inflation rate has been 2.819%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = ﷼100 * (1 + 0.03)15 = ﷼155.86

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 2004 was 65.85 and the CPI today is 102.73. Therefore,

Final value = Initial value *
CPI final/CPI initial
= ﷼100 *
102.63/65.85
= ﷼155.86

Saudi Arabia inflation - Conversion table

Initial Value Equivalent value
﷼1 riyal in 2004 ﷼1.56 riyal today
﷼5 riyal in 2004 ﷼7.8 riyal today
﷼10 riyal in 2004 ﷼15.6 riyal today
﷼50 riyal in 2004 ﷼78.01 riyal today
﷼100 riyal in 2004 ﷼156.02 riyal today
﷼500 riyal in 2004 ﷼780.08 riyal today
﷼1,000 riyal in 2004 ﷼1,560.17 riyal today
﷼5,000 riyal in 2004 ﷼7,800.83 riyal today
﷼10,000 riyal in 2004 ﷼15,601.66 riyal today
﷼50,000 riyal in 2004 ﷼78,008.3 riyal today
﷼100,000 riyal in 2004 ﷼156,016.61 riyal today
﷼500,000 riyal in 2004 ﷼780,083.04 riyal today
﷼1,000,000 riyal in 2004 ﷼1,560,166.08 riyal today

Value of Riyal in time (by year)

Period Value
2004 100
2005 100.4
2006 101.62
2007 104.55
2008 111.31
2009 121.31
2010 126.46
2011 133.33
2012 139.42
2013 144.41
2014 148.08
2015 150.87
2016 152.77
2017 154.24
2018 152.51
2019 155.86
Today 156.02