R

Value of 1988 South African Rand today

R100 in 1988
R1,034.25 in 2024

The inflation rate in South Africa between 1988 and today has been 934.25%, which translates into a total increase of R934.25. This means that 100 rand in 1988 are equivalent to 1,034.25 rand in 2024. In other words, the purchasing power of R100 in 1988 equals R1,034.25 today. The average annual inflation rate between these periods has been 6.7%.

Inflation timeline in South Africa (1988 - 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 1988-2023 904.88%
Cumulative inflation 1988-today 934.25%
Avg. Annual inflation 1988-2023 6.81%
CPI 1988 14.88
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 1988 and 2023, use the corresponding CPI values:

Value2023
=Value1988 ×
CPI2023/CPI1988
=R 100 ×
149.54/14.88
R1,004.88

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

Valuetoday
=Value1988 ×
CPItoday/CPI1988
=R 100 ×
153.92/14.88
R1,034.25

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 35 years between 1988 and 2023 and the average inflation rate was 6.8149%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=R100 × (1 + 0.068149)35
R1,004.88

South Africa inflation - Conversion table

Initial Value Equivalent value
R1 rand in 1988 R10.05 rand in 2023
R5 rand in 1988 R50.24 rand in 2023
R10 rand in 1988 R100.49 rand in 2023
R50 rand in 1988 R502.44 rand in 2023
R100 rand in 1988 R1,004.88 rand in 2023
R500 rand in 1988 R5,024.4 rand in 2023
R1,000 rand in 1988 R10,048.8 rand in 2023
R5,000 rand in 1988 R50,243.99 rand in 2023
R10,000 rand in 1988 R100,487.98 rand in 2023
R50,000 rand in 1988 R502,439.89 rand in 2023
R100,000 rand in 1988 R1,004,879.78 rand in 2023
R500,000 rand in 1988 R5,024,398.91 rand in 2023
R1,000,000 rand in 1988 R10,048,797.83 rand in 2023
Cumulative inflation From 1988 934.25%
Avg. annual inflation From 1988 6.7%
CPI 1988 14.88
CPI today 153.92

Value of Rand over time (by year)

Period Value
1988 100
1989 114.73
1990 131.16
1991 151.27
1992 172.26
1993 189
1994 205.9
1995 223.77
1996 240.23
1997 260.88
1998 278.83
1999 293.28
2000 308.94
2001 326.55
2002 357.56
2003 377.86
2004 375.25
2005 382.99
2006 395.41
2007 419.84
2008 462.14
2009 495.48
2010 515.75
2011 541.53
2012 572.53
2013 605.65
2014 642.78
2015 671.96
2016 716.12
2017 753.24
2018 787.27
2019 819.71
2020 846.02
2021 885.03
2022 947.34
2023 1,004.88
2024-01 1,027.11
Today 1,034.25

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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