R

Value of 1974 South African Rand today

R100 in 1974
R6,197.53 in 2024

The inflation rate in South Africa between 1974 and today has been 6,097.53%, which translates into a total increase of R6,097.53. This means that 100 rand in 1974 are equivalent to 6,197.53 rand in 2024. In other words, the purchasing power of R100 in 1974 equals R6,197.53 today. The average annual inflation rate between these periods has been 8.6%.

Inflation timeline in South Africa (1974 - 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 1974-2023 5,921.53%
Cumulative inflation 1974-today 6,097.53%
Avg. Annual inflation 1974-2023 8.72%
CPI 1974 2.48
CPI 2023 149.54
CPI 2024-01 (latest official data) 152.85
CPI today 153.92

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 1974 and 2023, use the corresponding CPI values:

Value2023
=Value1974 ×
CPI2023/CPI1974
=R 100 ×
149.54/2.48
R6,021.53

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 153.92:

Valuetoday
=Value1974 ×
CPItoday/CPI1974
=R 100 ×
153.92/2.48
R6,197.53

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 49 years between 1974 and 2023 and the average inflation rate was 8.7228%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=R100 × (1 + 0.087228)49
R6,021.53

South Africa inflation - Conversion table

Initial Value Equivalent value
R1 rand in 1974 R60.22 rand in 2023
R5 rand in 1974 R301.08 rand in 2023
R10 rand in 1974 R602.15 rand in 2023
R50 rand in 1974 R3,010.76 rand in 2023
R100 rand in 1974 R6,021.53 rand in 2023
R500 rand in 1974 R30,107.63 rand in 2023
R1,000 rand in 1974 R60,215.26 rand in 2023
R5,000 rand in 1974 R301,076.31 rand in 2023
R10,000 rand in 1974 R602,152.61 rand in 2023
R50,000 rand in 1974 R3,010,763.06 rand in 2023
R100,000 rand in 1974 R6,021,526.12 rand in 2023
R500,000 rand in 1974 R30,107,630.58 rand in 2023
R1,000,000 rand in 1974 R60,215,261.15 rand in 2023
Cumulative inflation From 1974 6,097.53%
Avg. annual inflation From 1974 8.6%
CPI 1974 2.48
CPI today 153.92

Value of Rand over time (by year)

Period Value
1974 100
1975 113.43
1976 125.93
1977 139.97
1978 155.56
1979 176.23
1980 200.31
1981 230.86
1982 264.66
1983 297.22
1984 331.48
1985 385.49
1986 457.41
1987 531.33
1988 599.23
1989 687.5
1990 785.96
1991 906.48
1992 1,032.25
1993 1,132.56
1994 1,233.8
1995 1,340.9
1996 1,439.51
1997 1,563.27
1998 1,670.83
1999 1,757.41
2000 1,851.24
2001 1,956.79
2002 2,142.58
2003 2,264.27
2004 2,248.6
2005 2,294.98
2006 2,369.43
2007 2,515.81
2008 2,769.27
2009 2,969.08
2010 3,090.51
2011 3,245.01
2012 3,430.77
2013 3,629.23
2014 3,851.69
2015 4,026.58
2016 4,291.19
2017 4,513.65
2018 4,717.54
2019 4,911.92
2020 5,069.59
2021 5,303.38
2022 5,676.73
2023 6,021.53
2024-01 6,154.73
Today 6,197.53

All available years

Today's value of south african rand by year:

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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