Value of 1973 South African Rand today

R100 in 1973

R5,632.9 in 2019

The inflation rate in South Africa between 1973 and today has been 5,532.9%, which translates into a total increase of R5,532.9. This means that 100 rand in 1973 are equivalent to 5,632.9 rand in 2019. In other words, the purchasing power of R100 in 1973 equals R5,632.9 today. The average annual inflation rate has been 8.96%.

Inflation timeline in South Africa (1973-2019)

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 (1973-2019) 5,520.53%
Total Inflation* 5,532.9%
Annual inflation avg. (1973-2019) 9.15%
Annual inflation avg.* 8.96%
CPI 1973 2.12
CPI 2019 118.92
CPI today* 119.18
R1 in 1973 R56.21 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 46 years between 1973 and 2019 and the average inflation rate has been 8.9556%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = R100 * (1 + 0.09)46 = R5,620.53

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 1973 was 2.12 and the CPI today is 119.18. Therefore,

Final value = Initial value *
CPI final/CPI initial
= R100 *
118.92/2.12
= R5,620.53

South Africa inflation - Conversion table

Initial Value Equivalent value
R1 rand in 1973 R56.33 rand today
R5 rand in 1973 R281.65 rand today
R10 rand in 1973 R563.29 rand today
R50 rand in 1973 R2,816.45 rand today
R100 rand in 1973 R5,632.9 rand today
R500 rand in 1973 R28,164.51 rand today
R1,000 rand in 1973 R56,329.02 rand today
R5,000 rand in 1973 R281,645.12 rand today
R10,000 rand in 1973 R563,290.25 rand today
R50,000 rand in 1973 R2,816,451.25 rand today
R100,000 rand in 1973 R5,632,902.5 rand today
R500,000 rand in 1973 R28,164,512.48 rand today
R1,000,000 rand in 1973 R56,329,024.95 rand today

Value of Rand in time (by year)

Period Value
1973 100
1974 108.7
1975 123.91
1976 139.13
1977 154.35
1978 171.74
1979 191.3
1980 219.57
1981 254.35
1982 289.13
1983 328.26
1984 363.04
1985 410.87
1986 486.96
1987 576.09
1988 660.87
1989 743.48
1990 858.7
1991 982.61
1992 1,143.48
1993 1,252.17
1994 1,371.74
1995 1,506.52
1996 1,610.87
1997 1,760.87
1998 1,869.57
1999 2,036.96
2000 2,082.61
2001 2,228.26
2002 2,330.43
2003 2,645.24
2004 2,602
2005 2,659.22
2006 2,712.86
2007 2,843.54
2008 3,058.75
2009 3,343.47
2010 3,549.54
2011 3,668.03
2012 3,899.86
2013 4,126.53
2014 4,342.9
2015 4,574.73
2016 4,811.71
2017 5,151.72
2018 5,383.55
2019 5,620.53
Today 5,632.9