Value of 1979 South African Rand today

R100 in 1979

R2,943.44 today

The inflation rate in South Africa between 1979 and today has been 2,843.44%, which translates into a total increase of R2,843.44. This means that 100 rand in 1979 are equivalent to 2,943.44 rand in 2018. In other words, the purchasing power of R100 in 1979 equals R2,943.44 today. The average annual inflation rate has been 8.82%.

Inflation timeline in South Africa (1979-2019)

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 (1979-2018) 2,714.13%
Total Inflation* 2,843.44%
Annual inflation avg. (1979-2018) 8.93%
Annual inflation avg.* 8.82%
CPI 1979 4.05
CPI 2018 113.91
CPI today* 119.14
R1 in 1979 R28.14 in 2018

* 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 39 years between 1979 and 2018 and the average inflation rate has been 8.8232%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = R100 * (1 + 0.09)39 = R2,814.13

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 1979 was 4.05 and the CPI today is 119.14. Therefore,

Final value = Initial value *
CPI final/CPI initial
= R100 *
113.91/4.05
= R2,814.13

South Africa inflation - Conversion table

Initial Value Equivalent value
R1 rand in 1979 R29.43 rand today
R5 rand in 1979 R147.17 rand today
R10 rand in 1979 R294.34 rand today
R50 rand in 1979 R1,471.72 rand today
R100 rand in 1979 R2,943.44 rand today
R500 rand in 1979 R14,717.22 rand today
R1,000 rand in 1979 R29,434.45 rand today
R5,000 rand in 1979 R147,172.23 rand today
R10,000 rand in 1979 R294,344.45 rand today
R50,000 rand in 1979 R1,471,722.27 rand today
R100,000 rand in 1979 R2,943,444.55 rand today
R500,000 rand in 1979 R14,717,222.73 rand today
R1,000,000 rand in 1979 R29,434,445.47 rand today

Value of Rand in time (by year)

Period Value
1979 100
1980 114.77
1981 132.95
1982 151.14
1983 171.59
1984 189.77
1985 214.77
1986 254.55
1987 301.14
1988 345.45
1989 388.64
1990 448.86
1991 513.64
1992 597.73
1993 654.55
1994 717.05
1995 787.5
1996 842.05
1997 920.45
1998 977.27
1999 1,064.77
2000 1,088.64
2001 1,164.77
2002 1,218.18
2003 1,382.74
2004 1,360.14
2005 1,390.05
2006 1,418.08
2007 1,486.4
2008 1,598.89
2009 1,747.72
2010 1,855.44
2011 1,917.38
2012 2,038.56
2013 2,157.05
2014 2,270.15
2015 2,391.34
2016 2,515.21
2017 2,692.95
2018 2,814.13
Today 2,943.44