# Value of 2016 Saudi Riyals today

﷼100 in 2016
﷼113.1 in 2024

The inflation rate in Saudi Arabia between 2016 and today has been 13.1%, which translates into a total increase of ﷼13.1. This means that 100 riyal in 2016 are equivalent to 113.1 riyal in 2024. In other words, the purchasing power of ﷼100 in 2016 equals ﷼113.1 today. The average annual inflation rate between these periods has been 1.55%.

## Inflation timeline in Saudi Arabia (2016 - 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 2016-2023 11.2%
Cumulative inflation 2016-today 13.1%
Avg. Annual inflation 2016-2023 1.53%
CPI 2016 102.07
CPI 2023 113.51
CPI 2024-06 (latest official data) 115.34
CPI today 115.44

## 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 2016 and 2023, use the corresponding CPI values:

Value2023
=Value2016 ×
CPI2023/CPI2016
=﷼ 100 ×
113.51/102.07
﷼111.2

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 115.44:

Valuetoday
=Value2016 ×
CPItoday/CPI2016
=﷼ 100 ×
115.44/102.07
﷼113.1

### 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 7 years between 2016 and 2023 and the average inflation rate was 1.5288%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=﷼100 × (1 + 0.015288)7
﷼111.2

## Saudi Arabia inflation - Conversion table

Initial Value Equivalent value
﷼1 riyal in 2016 ﷼1.11 riyal in 2023
﷼5 riyal in 2016 ﷼5.56 riyal in 2023
﷼10 riyal in 2016 ﷼11.12 riyal in 2023
﷼50 riyal in 2016 ﷼55.6 riyal in 2023
﷼100 riyal in 2016 ﷼111.2 riyal in 2023
﷼500 riyal in 2016 ﷼556.02 riyal in 2023
﷼1,000 riyal in 2016 ﷼1,112.05 riyal in 2023
﷼5,000 riyal in 2016 ﷼5,560.24 riyal in 2023
﷼10,000 riyal in 2016 ﷼11,120.48 riyal in 2023
﷼50,000 riyal in 2016 ﷼55,602.4 riyal in 2023
﷼100,000 riyal in 2016 ﷼111,204.8 riyal in 2023
﷼500,000 riyal in 2016 ﷼556,023.98 riyal in 2023
﷼1,000,000 riyal in 2016 ﷼1,112,047.95 riyal in 2023
 Cumulative inflation From 2016 13.1% Avg. annual inflation From 2016 1.55% CPI 2016 102.07 CPI today 115.44

### Value of Riyal over time (by year)

Period Value
2016 100
2017 99.16
2018 101.6
2019 99.47
2020 102.9
2021 106.05
2022 108.68
2023 111.2
2024-06 113
Today 113.1

All available years

Today's value of saudi riyals by year:

1995 | 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: