Value of 2008 Saudi Riyals today

﷼100 in 2008
﷼148.39 in 2024

The inflation rate in Saudi Arabia between 2008 and today has been 48.39%, which translates into a total increase of ﷼48.39. This means that 100 riyal in 2008 are equivalent to 148.39 riyal in 2024. In other words, the purchasing power of ﷼100 in 2008 equals ﷼148.39 today. The average annual inflation rate between these periods has been 2.5%.

Inflation timeline in Saudi Arabia (2008 - 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 2008-2023 46.48%
Cumulative inflation 2008-today 48.39%
Avg. Annual inflation 2008-2023 2.58%
CPI 2008 77.49
CPI 2023 113.51
CPI 2024-02 (latest official data) 114.74
CPI today 114.99

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 2008 and 2023, use the corresponding CPI values:

Value2023
=Value2008 ×
CPI2023/CPI2008
=﷼ 100 ×
113.51/77.49
﷼146.48

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 114.99:

Valuetoday
=Value2008 ×
CPItoday/CPI2008
=﷼ 100 ×
114.99/77.49
﷼148.39

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 15 years between 2008 and 2023 and the average inflation rate was 2.5776%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=﷼100 × (1 + 0.025776)15
﷼146.48

Saudi Arabia inflation - Conversion table

Initial Value Equivalent value
﷼1 riyal in 2008 ﷼1.46 riyal in 2023
﷼5 riyal in 2008 ﷼7.32 riyal in 2023
﷼10 riyal in 2008 ﷼14.65 riyal in 2023
﷼50 riyal in 2008 ﷼73.24 riyal in 2023
﷼100 riyal in 2008 ﷼146.48 riyal in 2023
﷼500 riyal in 2008 ﷼732.42 riyal in 2023
﷼1,000 riyal in 2008 ﷼1,464.83 riyal in 2023
﷼5,000 riyal in 2008 ﷼7,324.16 riyal in 2023
﷼10,000 riyal in 2008 ﷼14,648.33 riyal in 2023
﷼50,000 riyal in 2008 ﷼73,241.64 riyal in 2023
﷼100,000 riyal in 2008 ﷼146,483.28 riyal in 2023
﷼500,000 riyal in 2008 ﷼732,416.42 riyal in 2023
﷼1,000,000 riyal in 2008 ﷼1,464,832.84 riyal in 2023
Cumulative inflation From 2008 48.39%
Avg. annual inflation From 2008 2.5%
CPI 2008 77.49
CPI today 114.99

Value of Riyal over time (by year)

Period Value
2008 100
2009 105.06
2010 110.67
2011 117.11
2012 120.47
2013 124.73
2014 127.52
2015 129.05
2016 131.72
2017 130.62
2018 133.83
2019 131.03
2020 135.54
2021 139.7
2022 143.15
2023 146.48
2024-02 148.07
Today 148.39

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: