# Value of 1978 South African Rand today

R100 in 1978

R3,280.72 in 2019

The inflation rate in South Africa between 1978 and today has been 3,180.72%, which translates into a total increase of R3,180.72. This means that 100 rand in 1978 are equivalent to 3,280.72 rand in 2019. In other words, the purchasing power of R100 in 1978 equals R3,280.72 today. The average annual inflation rate has been 8.67%.

## Inflation timeline in South Africa (1978-2019)

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 (1978-2019) 3,172.71%
Total Inflation* 3,180.72%
Annual inflation avg. (1978-2019) 8.88%
Annual inflation avg.* 8.67%
CPI 1978 3.63
CPI 2019 118.92
CPI today* 119.21
R1 in 1978 R32.73 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 41 years between 1978 and 2019 and the average inflation rate has been 8.6662%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = R100 * (1 + 0.09)41 = R3,272.71

#### 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 1978 was 3.63 and the CPI today is 119.21. Therefore,

Final value = Initial value *
CPI final/CPI initial
= R100 *
118.92/3.63
= R3,272.71

### South Africa inflation - Conversion table

Initial Value Equivalent value
R1 rand in 1978 R32.81 rand today
R5 rand in 1978 R164.04 rand today
R10 rand in 1978 R328.07 rand today
R50 rand in 1978 R1,640.36 rand today
R100 rand in 1978 R3,280.72 rand today
R500 rand in 1978 R16,403.59 rand today
R1,000 rand in 1978 R32,807.18 rand today
R5,000 rand in 1978 R164,035.91 rand today
R10,000 rand in 1978 R328,071.83 rand today
R50,000 rand in 1978 R1,640,359.15 rand today
R100,000 rand in 1978 R3,280,718.3 rand today
R500,000 rand in 1978 R16,403,591.48 rand today
R1,000,000 rand in 1978 R32,807,182.96 rand today

Period Value
1978 100
1979 111.39
1980 127.85
1981 148.1
1982 168.35
1983 191.14
1984 211.39
1985 239.24
1986 283.54
1987 335.44
1988 384.81
1989 432.91
1990 500
1991 572.15
1992 665.82
1993 729.11
1994 798.73
1995 877.22
1996 937.97
1997 1,025.32
1998 1,088.61
1999 1,186.08
2000 1,212.66
2001 1,297.47
2002 1,356.96
2003 1,540.27
2004 1,515.09
2005 1,548.41
2006 1,579.64
2007 1,655.73
2008 1,781.05
2009 1,946.83
2010 2,066.82
2011 2,135.81
2012 2,270.8
2013 2,402.79
2014 2,528.78
2015 2,663.77
2016 2,801.76
2017 2,999.74
2018 3,134.73
2019 3,272.71
Today 3,280.72