Value of 1989 South African Rand today

R100 in 1989

R787.35 in 2020

The inflation rate in South Africa between 1989 and today has been 687.35%, which translates into a total increase of R687.35. This means that 100 rand in 1989 are equivalent to 787.35 rand in 2020. In other words, the purchasing power of R100 in 1989 equals R787.35 today. The average annual inflation rate has been 6.66%.

Inflation timeline in South Africa (1989-2020)

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 (1989-2020) 686.47%
Total Inflation* 687.35%
Annual inflation avg. (1989-2020) 6.88%
Annual inflation avg.* 6.66%
CPI 1989 15.73
CPI 2020 123.72
CPI today* 123.86
R1 in 1989 R7.86 in 2020

* 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 with 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 31 years between 1989 and 2020 and the average inflation rate has been 6.6609%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = R100 * (1 + 0.07)31 = R786.47

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 1989 was 15.73 and the CPI today is 123.86. Therefore,

Final value = Initial value *
CPI final/CPI initial
= R100 *
123.72/15.73
= R786.47

South Africa inflation - Conversion table

Initial Value Equivalent value
R1 rand in 1989 R7.87 rand today
R5 rand in 1989 R39.37 rand today
R10 rand in 1989 R78.73 rand today
R50 rand in 1989 R393.67 rand today
R100 rand in 1989 R787.35 rand today
R500 rand in 1989 R3,936.74 rand today
R1,000 rand in 1989 R7,873.48 rand today
R5,000 rand in 1989 R39,367.38 rand today
R10,000 rand in 1989 R78,734.76 rand today
R50,000 rand in 1989 R393,673.78 rand today
R100,000 rand in 1989 R787,347.56 rand today
R500,000 rand in 1989 R3,936,737.81 rand today
R1,000,000 rand in 1989 R7,873,475.63 rand today

Value of Rand over time (by year)

Period Value
1989 100
1990 115.5
1991 132.16
1992 153.8
1993 168.42
1994 184.5
1995 202.63
1996 216.67
1997 236.84
1998 251.46
1999 273.98
2000 280.12
2001 299.71
2002 313.45
2003 355.79
2004 349.98
2005 357.67
2006 364.89
2007 382.46
2008 411.41
2009 449.71
2010 477.42
2011 493.36
2012 524.54
2013 555.03
2014 584.13
2015 615.31
2016 647.19
2017 692.92
2018 724.1
2019 755.98
2020 786.47
Today 787.35