Value of 1971 South African Rand today

R100 in 1971

R6,477.05 in 2019

The inflation rate in South Africa between 1971 and today has been 6,377.05%, which translates into a total increase of R6,377.05. This means that 100 rand in 1971 are equivalent to 6,477.05 rand in 2019. In other words, the purchasing power of R100 in 1971 equals R6,477.05 today. The average annual inflation rate has been 8.88%.

Inflation timeline in South Africa (1971-2019)

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 (1971-2019) 6,363.61%
Total Inflation* 6,377.05%
Annual inflation avg. (1971-2019) 9.07%
Annual inflation avg.* 8.88%
CPI 1971 1.84
CPI 2019 118.92
CPI today* 119.17
R1 in 1971 R64.64 in 2019

* 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 48 years between 1971 and 2019 and the average inflation rate has been 8.8847%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = R100 * (1 + 0.09)48 = R6,463.61

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 1971 was 1.84 and the CPI today is 119.17. Therefore,

Final value = Initial value *
CPI final/CPI initial
= R100 *
118.92/1.84
= R6,463.61

South Africa inflation - Conversion table

Initial Value Equivalent value
R1 rand in 1971 R64.77 rand today
R5 rand in 1971 R323.85 rand today
R10 rand in 1971 R647.7 rand today
R50 rand in 1971 R3,238.52 rand today
R100 rand in 1971 R6,477.05 rand today
R500 rand in 1971 R32,385.24 rand today
R1,000 rand in 1971 R64,770.48 rand today
R5,000 rand in 1971 R323,852.41 rand today
R10,000 rand in 1971 R647,704.81 rand today
R50,000 rand in 1971 R3,238,524.07 rand today
R100,000 rand in 1971 R6,477,048.14 rand today
R500,000 rand in 1971 R32,385,240.69 rand today
R1,000,000 rand in 1971 R64,770,481.38 rand today

Value of Rand in time (by year)

Period Value
1971 100
1972 107.5
1973 115
1974 125
1975 142.5
1976 160
1977 177.5
1978 197.5
1979 220
1980 252.5
1981 292.5
1982 332.5
1983 377.5
1984 417.5
1985 472.5
1986 560
1987 662.5
1988 760
1989 855
1990 987.5
1991 1,130
1992 1,315
1993 1,440
1994 1,577.5
1995 1,732.5
1996 1,852.5
1997 2,025
1998 2,150
1999 2,342.5
2000 2,395
2001 2,562.5
2002 2,680
2003 3,042.03
2004 2,992.3
2005 3,058.1
2006 3,119.79
2007 3,270.07
2008 3,517.56
2009 3,844.99
2010 4,081.97
2011 4,218.23
2012 4,484.83
2013 4,745.51
2014 4,994.34
2015 5,260.94
2016 5,533.47
2017 5,924.48
2018 6,191.08
2019 6,463.61
Today 6,477.05