Value of 1965 South African Rand today

Inflation timeline in South Africa (1965-2019)

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 (1965-2018)	7,519.49%
Total Inflation*	7,869.63%
Annual inflation avg. (1965-2018)	8.52%
Annual inflation avg.*	8.45%
CPI 1965	1.49
CPI 2018	113.91
CPI today*	119.14
R1 in 1965	R76.19 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 53 years between 1965 and 2018 and the average inflation rate has been 8.4456%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)ⁿ = R100 * (1 + 0.08)⁵³ = R7,619.49

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 1965 was 1.49 and the CPI today is 119.14. Therefore,

Final value = Initial value *
CPI final/CPI initial
= R100 *
113.91/1.49
= R7,619.49

South Africa inflation - Conversion table

Initial Value		Equivalent value
R1 rand in 1965		R79.7 rand today
R5 rand in 1965		R398.48 rand today
R10 rand in 1965		R796.96 rand today
R50 rand in 1965		R3,984.81 rand today
R100 rand in 1965		R7,969.63 rand today
R500 rand in 1965		R39,848.14 rand today
R1,000 rand in 1965		R79,696.27 rand today
R5,000 rand in 1965		R398,481.37 rand today
R10,000 rand in 1965		R796,962.75 rand today
R50,000 rand in 1965		R3,984,813.73 rand today
R100,000 rand in 1965		R7,969,627.46 rand today
R500,000 rand in 1965		R39,848,137.3 rand today
R1,000,000 rand in 1965		R79,696,274.61 rand today

Value of Rand in time (by year)

Period	Value
1965	100
1966	103.32
1967	107.25
1968	109.67
1969	112.69
1970	116.92
1971	123.07
1972	132.3
1973	141.53
1974	153.84
1975	175.38
1976	196.92
1977	218.45
1978	243.07
1979	270.76
1980	310.76
1981	359.99
1982	409.21
1983	464.6
1984	513.83
1985	581.52
1986	689.2
1987	815.35
1988	935.35
1989	1,052.27
1990	1,215.34
1991	1,390.71
1992	1,618.4
1993	1,772.24
1994	1,941.46
1995	2,132.22
1996	2,279.91
1997	2,492.21
1998	2,646.05
1999	2,882.96
2000	2,947.58
2001	3,153.72
2002	3,298.33
2003	3,743.88
2004	3,682.69
2005	3,763.67
2006	3,839.59
2007	4,024.55
2008	4,329.14
2009	4,732.11
2010	5,023.76
2011	5,191.46
2012	5,519.58
2013	5,840.4
2014	6,146.64
2015	6,474.75
2016	6,810.15
2017	7,291.38
2018	7,619.49
Today	7,969.63