R

Value of 1978 South African Rand today

R100 in 1978
R3,591.64 in 2022

The inflation rate in South Africa between 1978 and today has been 3,491.64%, which translates into a total increase of R3,491.64. This means that 100 rand in 1978 are equivalent to 3,591.64 rand in 2022. In other words, the purchasing power of R100 in 1978 equals R3,591.64 today. The average annual inflation rate between these periods has been 8.48%.

Inflation timeline in South Africa (1978 - 2022)

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 1978-2021 3,309.32%
Cumulative inflation 1978-today 3,491.64%
Avg. Annual inflation 1978-2021 8.55%
CPI 1978 3.86
CPI 2021 131.71
CPI 2022-03 (latest official data) 137.59
CPI today 138.75

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 1978 and 2021, use the corresponding CPI values:

Value2021
=Value1978 ×
CPI2021/CPI1978
=R 100 ×
131.71/3.86
R3,409.32

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 138.75:

Valuetoday
=Value1978 ×
CPItoday/CPI1978
=R 100 ×
138.75/3.86
R3,591.64

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 43 years between 1978 and 2021 and the average inflation rate was 8.5534%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=R100 × (1 + 0.085534)43
R3,409.32

South Africa inflation - Conversion table

Initial Value Equivalent value
R1 rand in 1978 R34.09 rand in 2021
R5 rand in 1978 R170.47 rand in 2021
R10 rand in 1978 R340.93 rand in 2021
R50 rand in 1978 R1,704.66 rand in 2021
R100 rand in 1978 R3,409.32 rand in 2021
R500 rand in 1978 R17,046.58 rand in 2021
R1,000 rand in 1978 R34,093.16 rand in 2021
R5,000 rand in 1978 R170,465.79 rand in 2021
R10,000 rand in 1978 R340,931.58 rand in 2021
R50,000 rand in 1978 R1,704,657.91 rand in 2021
R100,000 rand in 1978 R3,409,315.82 rand in 2021
R500,000 rand in 1978 R17,046,579.08 rand in 2021
R1,000,000 rand in 1978 R34,093,158.16 rand in 2021
Cumulative inflation From 1978 3,491.64%
Avg. annual inflation From 1978 8.48%
CPI 1978 3.86
CPI today 138.75

Value of Rand over time (by year)

Period Value
1978 100
1979 113.29
1980 128.77
1981 148.41
1982 170.14
1983 191.07
1984 213.1
1985 247.82
1986 294.05
1987 341.57
1988 385.22
1989 441.96
1990 505.26
1991 582.74
1992 663.59
1993 728.08
1994 793.15
1995 862
1996 925.4
1997 1,004.96
1998 1,074.11
1999 1,129.76
2000 1,190.08
2001 1,257.94
2002 1,377.37
2003 1,455.6
2004 1,445.53
2005 1,475.35
2006 1,523.21
2007 1,617.31
2008 1,780.24
2009 1,908.69
2010 1,986.75
2011 2,086.08
2012 2,205.5
2013 2,333.07
2014 2,476.09
2015 2,588.52
2016 2,758.62
2017 2,901.63
2018 3,032.7
2019 3,157.66
2020 3,259.02
2021 3,409.32
2022-03 3,561.65
Today 3,591.64

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 |

Other currencies: