# Value of 1991 South African Rand today

R100 in 1991

R595.8 in 2020

The inflation rate in South Africa between 1991 and today has been 495.8%, which translates into a total increase of R495.8. This means that 100 rand in 1991 are equivalent to 595.8 rand in 2020. In other words, the purchasing power of R100 in 1991 equals R595.8 today. The average annual inflation rate has been 6.13%.

## Inflation timeline in South Africa (1991-2020)

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 (1991-2020) 495.07%
Total Inflation* 495.8%
Annual inflation avg. (1991-2020) 6.34%
Annual inflation avg.* 6.13%
CPI 1991 20.79
CPI 2020 123.72
CPI today* 123.87
R1 in 1991 R5.95 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 29 years between 1991 and 2020 and the average inflation rate has been 6.1297%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = R100 * (1 + 0.06)29 = R595.07

#### 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 1991 was 20.79 and the CPI today is 123.87. Therefore,

Final value = Initial value *
CPI final/CPI initial
= R100 *
123.72/20.79
= R595.07

### South Africa inflation - Conversion table

Initial Value Equivalent value
R1 rand in 1991 R5.96 rand today
R5 rand in 1991 R29.79 rand today
R10 rand in 1991 R59.58 rand today
R50 rand in 1991 R297.9 rand today
R100 rand in 1991 R595.8 rand today
R500 rand in 1991 R2,979.02 rand today
R1,000 rand in 1991 R5,958.03 rand today
R5,000 rand in 1991 R29,790.16 rand today
R10,000 rand in 1991 R59,580.32 rand today
R50,000 rand in 1991 R297,901.62 rand today
R100,000 rand in 1991 R595,803.23 rand today
R500,000 rand in 1991 R2,979,016.15 rand today
R1,000,000 rand in 1991 R5,958,032.31 rand today

Period Value
1991 100
1992 116.37
1993 127.43
1994 139.6
1995 153.32
1996 163.94
1997 179.2
1998 190.27
1999 207.3
2000 211.95
2001 226.77
2002 237.17
2003 269.21
2004 264.81
2005 270.63
2006 276.09
2007 289.39
2008 311.29
2009 340.26
2010 361.24
2011 373.29
2012 396.89
2013 419.96
2014 441.98
2015 465.57
2016 489.69
2017 524.29
2018 547.88
2019 572
2020 595.07
Today 595.8