R

Value of 1991 South African Rand today

R100 in 1991
R683.69 in 2024

The inflation rate in South Africa between 1991 and today has been 583.69%, which translates into a total increase of R583.69. This means that 100 rand in 1991 are equivalent to 683.69 rand in 2024. In other words, the purchasing power of R100 in 1991 equals R683.69 today. The average annual inflation rate between these periods has been 6%.

Inflation timeline in South Africa (1991 - 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 1991-2023 564.27%
Cumulative inflation 1991-today 583.69%
Avg. Annual inflation 1991-2023 6.1%
CPI 1991 22.51
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 1991 and 2023, use the corresponding CPI values:

Value2023
=Value1991 ×
CPI2023/CPI1991
=R 100 ×
149.54/22.51
R664.27

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

Valuetoday
=Value1991 ×
CPItoday/CPI1991
=R 100 ×
153.92/22.51
R683.69

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 32 years between 1991 and 2023 and the average inflation rate was 6.0958%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=R100 × (1 + 0.060958)32
R664.27

South Africa inflation - Conversion table

Initial Value Equivalent value
R1 rand in 1991 R6.64 rand in 2023
R5 rand in 1991 R33.21 rand in 2023
R10 rand in 1991 R66.43 rand in 2023
R50 rand in 1991 R332.14 rand in 2023
R100 rand in 1991 R664.27 rand in 2023
R500 rand in 1991 R3,321.37 rand in 2023
R1,000 rand in 1991 R6,642.74 rand in 2023
R5,000 rand in 1991 R33,213.72 rand in 2023
R10,000 rand in 1991 R66,427.44 rand in 2023
R50,000 rand in 1991 R332,137.18 rand in 2023
R100,000 rand in 1991 R664,274.36 rand in 2023
R500,000 rand in 1991 R3,321,371.79 rand in 2023
R1,000,000 rand in 1991 R6,642,743.59 rand in 2023
Cumulative inflation From 1991 583.69%
Avg. annual inflation From 1991 6%
CPI 1991 22.51
CPI today 153.92

Value of Rand over time (by year)

Period Value
1991 100
1992 113.87
1993 124.94
1994 136.11
1995 147.92
1996 158.8
1997 172.45
1998 184.32
1999 193.87
2000 204.22
2001 215.87
2002 236.36
2003 249.79
2004 248.06
2005 253.17
2006 261.39
2007 277.54
2008 305.5
2009 327.54
2010 340.93
2011 357.98
2012 378.47
2013 400.36
2014 424.91
2015 444.2
2016 473.39
2017 497.93
2018 520.42
2019 541.87
2020 559.26
2021 585.05
2022 626.24
2023 664.27
2024-01 678.97
Today 683.69

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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