Value of 2004 Saudi Riyals today

﷼100 in 2004
﷼170.35 in 2022

The inflation rate in Saudi Arabia between 2004 and today has been 70.35%, which translates into a total increase of ﷼70.35. This means that 100 riyal in 2004 are equivalent to 170.35 riyal in 2022. In other words, the purchasing power of ﷼100 in 2004 equals ﷼170.35 today. The average annual inflation rate between these periods has been 3%.

Inflation timeline in Saudi Arabia (2004 - 2022)

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 2004-2021 64.2%
Cumulative inflation 2004-today 70.35%
Avg. Annual inflation 2004-2021 2.96%
CPI 2004 65.92
CPI 2021 108.25
CPI 2022-10 (latest official data) 112.11
CPI today 112.31

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 2004 and 2021, use the corresponding CPI values:

Value2021
=Value2004 ×
CPI2021/CPI2004
=﷼ 100 ×
108.25/65.92
﷼164.2

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 112.31:

Valuetoday
=Value2004 ×
CPItoday/CPI2004
=﷼ 100 ×
112.31/65.92
﷼170.35

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 17 years between 2004 and 2021 and the average inflation rate was 2.96%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=﷼100 × (1 + 0.0296)17
﷼164.2

Saudi Arabia inflation - Conversion table

Initial Value Equivalent value
﷼1 riyal in 2004 ﷼1.64 riyal in 2021
﷼5 riyal in 2004 ﷼8.21 riyal in 2021
﷼10 riyal in 2004 ﷼16.42 riyal in 2021
﷼50 riyal in 2004 ﷼82.1 riyal in 2021
﷼100 riyal in 2004 ﷼164.2 riyal in 2021
﷼500 riyal in 2004 ﷼820.98 riyal in 2021
﷼1,000 riyal in 2004 ﷼1,641.96 riyal in 2021
﷼5,000 riyal in 2004 ﷼8,209.8 riyal in 2021
﷼10,000 riyal in 2004 ﷼16,419.6 riyal in 2021
﷼50,000 riyal in 2004 ﷼82,098.01 riyal in 2021
﷼100,000 riyal in 2004 ﷼164,196.03 riyal in 2021
﷼500,000 riyal in 2004 ﷼820,980.13 riyal in 2021
﷼1,000,000 riyal in 2004 ﷼1,641,960.26 riyal in 2021
Cumulative inflation From 2004 70.35%
Avg. annual inflation From 2004 3%
CPI 2004 65.92
CPI today 112.31

Value of Riyal over time (by year)

Period Value
2004 100
2005 100.48
2006 102.7
2007 106.98
2008 117.54
2009 123.48
2010 130.08
2011 137.65
2012 141.6
2013 146.6
2014 149.88
2015 151.69
2016 154.83
2017 153.53
2018 157.3
2019 154.01
2020 159.32
2021 164.2
2022-10 170.06
Today 170.35

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 |

Other currencies: