Value of 1959 South African Rand today

R100 in 1959

R8,881.97 today

The inflation rate in South Africa between 1959 and today has been 8,781.97%, which translates into a total increase of R8,781.97. This means that 100 rand in 1959 are equivalent to 8,881.97 rand in 2018. In other words, the purchasing power of R100 in 1959 equals R8,881.97 today. The average annual inflation rate has been 7.76%.

Inflation timeline in South Africa (1959-2019)

The following chart ilustrates the equivalence of R100 throughout the years due to inflation and CPI changes. All values are equivalent in terms of purchashing 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 (ZAR) 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 (1959-2018) 8,391.76%
Total Inflation* 8,781.97%
Annual inflation avg. (1959-2018) 7.82%
Annual inflation avg.* 7.76%
CPI 1959 1.34
CPI 2018 113.91
CPI today* 119.14
R1 in 1959 R84.92 in 2018

* 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 R100 worth today. There are 59 years between 1959 and 2018 and the average inflation rate has been 7.7644%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = R100 * (1 + 0.08)59 = R8,491.76

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 1959 was 1.34 and the CPI today is 119.14. Therefore,

Final value = Initial value *
CPI final/CPI initial
= R100 *
113.91/1.34
= R8,491.76

South Africa inflation - Conversion table

Initial Value Equivalent value
R1 rand in 1959 R88.82 rand today
R5 rand in 1959 R444.1 rand today
R10 rand in 1959 R888.2 rand today
R50 rand in 1959 R4,440.99 rand today
R100 rand in 1959 R8,881.97 rand today
R500 rand in 1959 R44,409.85 rand today
R1,000 rand in 1959 R88,819.71 rand today
R5,000 rand in 1959 R444,098.54 rand today
R10,000 rand in 1959 R888,197.08 rand today
R50,000 rand in 1959 R4,440,985.41 rand today
R100,000 rand in 1959 R8,881,970.82 rand today
R500,000 rand in 1959 R44,409,854.12 rand today
R1,000,000 rand in 1959 R88,819,708.25 rand today

Value of Rand in time (by year)

Period Value
1959 100
1960 100.67
1961 102.02
1962 104.04
1963 105.72
1964 106.73
1965 111.45
1966 115.15
1967 119.53
1968 122.22
1969 125.59
1970 130.3
1971 137.16
1972 147.45
1973 157.74
1974 171.45
1975 195.45
1976 219.46
1977 243.46
1978 270.89
1979 301.75
1980 346.33
1981 401.2
1982 456.06
1983 517.78
1984 572.65
1985 648.09
1986 768.1
1987 908.69
1988 1,042.42
1989 1,172.73
1990 1,354.47
1991 1,549.92
1992 1,803.67
1993 1,975.12
1994 2,163.72
1995 2,376.32
1996 2,540.91
1997 2,777.51
1998 2,948.96
1999 3,213
2000 3,285.01
2001 3,514.75
2002 3,675.92
2003 4,172.47
2004 4,104.27
2005 4,194.52
2006 4,279.13
2007 4,485.27
2008 4,824.73
2009 5,273.83
2010 5,598.87
2011 5,785.77
2012 6,151.44
2013 6,508.99
2014 6,850.29
2015 7,215.96
2016 7,589.76
2017 8,126.08
2018 8,491.76
Today 8,881.97