# Value of 1983 South African Rand today

R100 in 1983

R1,717.03 in 2019

The inflation rate in South Africa between 1983 and today has been 1,617.03%, which translates into a total increase of R1,617.03. This means that 100 rand in 1983 are equivalent to 1,717.03 rand in 2019. In other words, the purchasing power of R100 in 1983 equals R1,717.03 today. The average annual inflation rate has been 7.99%.

## Inflation timeline in South Africa (1983-2019)

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 (1983-2019) 1,612.22%
Total Inflation* 1,617.03%
Annual inflation avg. (1983-2019) 8.21%
Annual inflation avg.* 7.99%
CPI 1983 6.95
CPI 2019 118.92
CPI today* 119.26
R1 in 1983 R17.12 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 36 years between 1983 and 2019 and the average inflation rate has been 7.9872%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = R100 * (1 + 0.08)36 = R1,712.22

#### 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 1983 was 6.95 and the CPI today is 119.26. Therefore,

Final value = Initial value *
CPI final/CPI initial
= R100 *
118.92/6.95
= R1,712.22

### South Africa inflation - Conversion table

Initial Value Equivalent value
R1 rand in 1983 R17.17 rand today
R5 rand in 1983 R85.85 rand today
R10 rand in 1983 R171.7 rand today
R50 rand in 1983 R858.52 rand today
R100 rand in 1983 R1,717.03 rand today
R500 rand in 1983 R8,585.15 rand today
R1,000 rand in 1983 R17,170.3 rand today
R5,000 rand in 1983 R85,851.52 rand today
R10,000 rand in 1983 R171,703.03 rand today
R50,000 rand in 1983 R858,515.17 rand today
R100,000 rand in 1983 R1,717,030.34 rand today
R500,000 rand in 1983 R8,585,151.72 rand today
R1,000,000 rand in 1983 R17,170,303.44 rand today

Period Value
1983 100
1984 110.6
1985 125.17
1986 148.34
1987 175.5
1988 201.32
1989 226.49
1990 261.59
1991 299.34
1992 348.34
1993 381.46
1994 417.88
1995 458.94
1996 490.73
1997 536.42
1998 569.54
1999 620.53
2000 634.44
2001 678.81
2002 709.93
2003 805.83
2004 792.66
2005 810.09
2006 826.43
2007 866.24
2008 931.81
2009 1,018.54
2010 1,081.32
2011 1,117.41
2012 1,188.04
2013 1,257.09
2014 1,323
2015 1,393.63
2016 1,465.82
2017 1,569.4
2018 1,640.02
2019 1,712.22
Today 1,717.03