Value of 1992 South African Rand today

R100 in 1992

R492.44 today

The inflation rate in South Africa between 1992 and today has been 392.44%, which translates into a total increase of R392.44. This means that 100 rand in 1992 are equivalent to 492.44 rand in 2018. In other words, the purchasing power of R100 in 1992 equals R492.44 today. The average annual inflation rate has been 6.08%.

Inflation timeline in South Africa (1992-2019)

The following chart ilustrates the equivalence of R100 throughout the years due to inflation and CPI changes. All values are equivalent in terms of purchashing 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 (1992-2018) 370.8%
Total Inflation* 392.44%
Annual inflation avg. (1992-2018) 6.14%
Annual inflation avg.* 6.08%
CPI 1992 24.19
CPI 2018 113.91
CPI today* 119.14
R1 in 1992 R4.71 in 2018

* 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 26 years between 1992 and 2018 and the average inflation rate has been 6.0822%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = R100 * (1 + 0.06)26 = R470.8

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 1992 was 24.19 and the CPI today is 119.14. Therefore,

Final value = Initial value *
CPI final/CPI initial
= R100 *
113.91/24.19
= R470.8

South Africa inflation - Conversion table

Initial Value Equivalent value
R1 rand in 1992 R4.92 rand today
R5 rand in 1992 R24.62 rand today
R10 rand in 1992 R49.24 rand today
R50 rand in 1992 R246.22 rand today
R100 rand in 1992 R492.44 rand today
R500 rand in 1992 R2,462.2 rand today
R1,000 rand in 1992 R4,924.39 rand today
R5,000 rand in 1992 R24,621.97 rand today
R10,000 rand in 1992 R49,243.93 rand today
R50,000 rand in 1992 R246,219.67 rand today
R100,000 rand in 1992 R492,439.34 rand today
R500,000 rand in 1992 R2,462,196.69 rand today
R1,000,000 rand in 1992 R4,924,393.39 rand today

Value of Rand in time (by year)

Period Value
1992 100
1993 109.51
1994 119.96
1995 131.75
1996 140.87
1997 153.99
1998 163.5
1999 178.14
2000 182.13
2001 194.87
2002 203.8
2003 231.33
2004 227.55
2005 232.56
2006 237.25
2007 248.67
2008 267.5
2009 292.39
2010 310.42
2011 320.78
2012 341.05
2013 360.88
2014 379.8
2015 400.07
2016 420.8
2017 450.53
2018 470.8
Today 492.44