R

Value of 1961 South African Rand today

R100 in 1961
R11,285.7 in 2024

The inflation rate in South Africa between 1961 and today has been 11,185.7%, which translates into a total increase of R11,185.7. This means that 100 rand in 1961 are equivalent to 11,285.7 rand in 2024. In other words, the purchasing power of R100 in 1961 equals R11,285.7 today. The average annual inflation rate between these periods has been 7.79%.

Inflation timeline in South Africa (1961 - 2024)

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 1961-2023 10,666.26%
Cumulative inflation 1961-today 11,185.7%
Avg. Annual inflation 1961-2023 7.84%
CPI 1961 1.39
CPI 2023 149.54
CPI 2024-04 (latest official data) 155.82
CPI today 156.76

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 1961 and 2023, use the corresponding CPI values:

Value2023
=Value1961 ×
CPI2023/CPI1961
=R 100 ×
149.54/1.39
R10,766.26

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 156.76:

Valuetoday
=Value1961 ×
CPItoday/CPI1961
=R 100 ×
156.76/1.39
R11,285.7

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 62 years between 1961 and 2023 and the average inflation rate was 7.8388%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=R100 × (1 + 0.078388)62
R10,766.26

South Africa inflation - Conversion table

Initial Value Equivalent value
R1 rand in 1961 R107.66 rand in 2023
R5 rand in 1961 R538.31 rand in 2023
R10 rand in 1961 R1,076.63 rand in 2023
R50 rand in 1961 R5,383.13 rand in 2023
R100 rand in 1961 R10,766.26 rand in 2023
R500 rand in 1961 R53,831.29 rand in 2023
R1,000 rand in 1961 R107,662.59 rand in 2023
R5,000 rand in 1961 R538,312.93 rand in 2023
R10,000 rand in 1961 R1,076,625.85 rand in 2023
R50,000 rand in 1961 R5,383,129.27 rand in 2023
R100,000 rand in 1961 R10,766,258.53 rand in 2023
R500,000 rand in 1961 R53,831,292.67 rand in 2023
R1,000,000 rand in 1961 R107,662,585.34 rand in 2023
Cumulative inflation From 1961 11,185.7%
Avg. annual inflation From 1961 7.79%
CPI 1961 1.39
CPI today 156.76

Value of Rand over time (by year)

Period Value
1961 100
1962 101.25
1963 102.6
1964 105.2
1965 109.48
1966 113.3
1967 117.31
1968 119.64
1969 123.52
1970 129.68
1971 137.41
1972 146.24
1973 160.03
1974 178.8
1975 202.8
1976 225.15
1977 250.26
1978 278.13
1979 315.1
1980 358.14
1981 412.78
1982 473.2
1983 531.42
1984 592.68
1985 689.25
1986 817.83
1987 949.99
1988 1,071.4
1989 1,229.22
1990 1,405.26
1991 1,620.75
1992 1,845.63
1993 2,024.98
1994 2,205.98
1995 2,397.47
1996 2,573.78
1997 2,795.07
1998 2,987.39
1999 3,142.18
2000 3,309.94
2001 3,498.67
2002 3,830.85
2003 4,048.43
2004 4,020.41
2005 4,103.34
2006 4,236.45
2007 4,498.17
2008 4,951.34
2009 5,308.6
2010 5,525.71
2011 5,801.95
2012 6,134.09
2013 6,488.92
2014 6,886.68
2015 7,199.38
2016 7,672.48
2017 8,070.24
2018 8,434.78
2019 8,782.32
2020 9,064.23
2021 9,482.24
2022 10,149.77
2023 10,766.26
2024-04 11,218.29
Today 11,285.7

All available years

Today's value of south african rand by year:

1957 | 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 | 2022 | 2023 |

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