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Value of 1960 South African Rand today

R100 in 1960
R10,627.92 in 2022

The inflation rate in South Africa between 1960 and today has been 10,527.92%, which translates into a total increase of R10,527.92. This means that 100 rand in 1960 are equivalent to 10,627.92 rand in 2022. In other words, the purchasing power of R100 in 1960 equals R10,627.92 today. The average annual inflation rate between these periods has been 7.82%.

Inflation timeline in South Africa (1960 - 2022)

The following chart depicts the equivalence of R100 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 (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 extrapolated from the latest 12-month rolling average official data.

The following table contains relevant indicators:

Indicator Value
Cumulative inflation 1960-2021 9,581.6%
Cumulative inflation 1960-today 10,527.92%
Avg. Annual inflation 1960-2021 7.78%
CPI 1960 1.36
CPI 2021 131.71
CPI 2022-07 (latest official data) 143.13
CPI today 144.58

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 1960 and 2021, use the corresponding CPI values:

Value2021
=Value1960 ×
CPI2021/CPI1960
=R 100 ×
131.71/1.36
R9,681.6

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 144.58:

Valuetoday
=Value1960 ×
CPItoday/CPI1960
=R 100 ×
144.58/1.36
R10,627.92

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 R100 worth today. There are 61 years between 1960 and 2021 and the average inflation rate was 7.7845%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=R100 × (1 + 0.077845)61
R9,681.6

South Africa inflation - Conversion table

Initial Value Equivalent value
R1 rand in 1960 R96.82 rand in 2021
R5 rand in 1960 R484.08 rand in 2021
R10 rand in 1960 R968.16 rand in 2021
R50 rand in 1960 R4,840.8 rand in 2021
R100 rand in 1960 R9,681.6 rand in 2021
R500 rand in 1960 R48,407.98 rand in 2021
R1,000 rand in 1960 R96,815.96 rand in 2021
R5,000 rand in 1960 R484,079.78 rand in 2021
R10,000 rand in 1960 R968,159.55 rand in 2021
R50,000 rand in 1960 R4,840,797.76 rand in 2021
R100,000 rand in 1960 R9,681,595.52 rand in 2021
R500,000 rand in 1960 R48,407,977.61 rand in 2021
R1,000,000 rand in 1960 R96,815,955.21 rand in 2021
Cumulative inflation From 1960 10,527.92%
Avg. annual inflation From 1960 7.82%
CPI 1960 1.36
CPI today 144.58

Value of Rand over time (by year)

Period Value
1960 100
1961 102.1
1962 103.37
1963 104.76
1964 107.41
1965 111.78
1966 115.68
1967 119.78
1968 122.16
1969 126.11
1970 132.41
1971 140.3
1972 149.31
1973 163.4
1974 182.56
1975 207.06
1976 229.88
1977 255.52
1978 283.97
1979 321.73
1980 365.67
1981 421.45
1982 483.15
1983 542.59
1984 605.14
1985 703.74
1986 835.02
1987 969.97
1988 1,093.92
1989 1,255.07
1990 1,434.8
1991 1,654.83
1992 1,884.43
1993 2,067.55
1994 2,252.36
1995 2,447.87
1996 2,627.89
1997 2,853.83
1998 3,050.19
1999 3,208.24
2000 3,379.53
2001 3,572.22
2002 3,911.39
2003 4,133.54
2004 4,104.93
2005 4,189.61
2006 4,325.52
2007 4,592.74
2008 5,055.44
2009 5,420.21
2010 5,641.88
2011 5,923.93
2012 6,263.05
2013 6,625.34
2014 7,031.46
2015 7,350.74
2016 7,833.78
2017 8,239.9
2018 8,612.11
2019 8,966.96
2020 9,254.8
2021 9,681.6
2022-07 10,521.14
Today 10,627.92

All available years

Today's value of south african rand by year:

1958 | 1959 | 1960 | 1961 | 1962 | 1963 | 1964 | 1965 | 1966 | 1967 | 1968 | 1969 | 1970 | 1971 | 1972 | 1973 | 1974 | 1975 | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 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 |

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