Value of 1960 South African Rand today

R100 in 1960

R9,168.6 in 2020

The inflation rate in South Africa between 1960 and today has been 9,068.6%, which translates into a total increase of R9,068.6. This means that 100 rand in 1960 are equivalent to 9,168.6 rand in 2020. In other words, the purchasing power of R100 in 1960 equals R9,168.6 today. The average annual inflation rate has been 7.69%.

Inflation timeline in South Africa (1960-2020)

The following chart depicts the equivalence of R100 throughout the years due to 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 obtained by estimating figures from recent trends.

The following table contains relevant indicators:

Indicator Value
Total Inflation (1960-2020) 9,061.42%
Total Inflation* 9,068.6%
Annual inflation avg. (1960-2020) 7.82%
Annual inflation avg.* 7.69%
CPI 1960 1.35
CPI 2020 123.72
CPI today* 123.81
R1 in 1960 R91.61 in 2020

* 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 with 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 60 years between 1960 and 2020 and the average inflation rate has been 7.6884%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = R100 * (1 + 0.08)60 = R9,161.42

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 1960 was 1.35 and the CPI today is 123.81. Therefore,

Final value = Initial value *
CPI final/CPI initial
= R100 *
123.72/1.35
= R9,161.42

South Africa inflation - Conversion table

Initial Value Equivalent value
R1 rand in 1960 R91.69 rand today
R5 rand in 1960 R458.43 rand today
R10 rand in 1960 R916.86 rand today
R50 rand in 1960 R4,584.3 rand today
R100 rand in 1960 R9,168.6 rand today
R500 rand in 1960 R45,843.02 rand today
R1,000 rand in 1960 R91,686.04 rand today
R5,000 rand in 1960 R458,430.19 rand today
R10,000 rand in 1960 R916,860.39 rand today
R50,000 rand in 1960 R4,584,301.94 rand today
R100,000 rand in 1960 R9,168,603.87 rand today
R500,000 rand in 1960 R45,843,019.35 rand today
R1,000,000 rand in 1960 R91,686,038.71 rand today

Value of Rand over time (by year)

Period Value
1960 100
1961 101.34
1962 103.34
1963 105.02
1964 106.02
1965 110.7
1966 114.38
1967 118.73
1968 121.4
1969 124.75
1970 129.43
1971 136.24
1972 146.46
1973 156.68
1974 170.3
1975 194.15
1976 217.99
1977 241.83
1978 269.08
1979 299.74
1980 344.02
1981 398.51
1982 453.01
1983 514.32
1984 568.82
1985 643.75
1986 762.96
1987 902.61
1988 1,035.45
1989 1,164.88
1990 1,345.41
1991 1,539.55
1992 1,791.6
1993 1,961.91
1994 2,149.24
1995 2,360.42
1996 2,523.91
1997 2,758.93
1998 2,929.24
1999 3,191.51
2000 3,263.04
2001 3,491.24
2002 3,651.33
2003 4,144.57
2004 4,076.82
2005 4,166.47
2006 4,250.51
2007 4,455.27
2008 4,792.46
2009 5,238.55
2010 5,561.42
2011 5,747.07
2012 6,110.3
2013 6,465.46
2014 6,804.47
2015 7,167.7
2016 7,539
2017 8,071.73
2018 8,434.96
2019 8,806.26
2020 9,161.42
Today 9,168.6