Value of 1992 South African Rand today

R100 in 1992

R588.46 in 2023

The inflation rate in South Africa between 1992 and today has been 488.46%, which translates into a total increase of R488.46. This means that 100 rand in 1992 are equivalent to 588.46 rand in 2023. In other words, the purchasing power of R100 in 1992 equals R588.46 today. The average annual inflation rate between these periods has been 5.88%.

Inflation timeline in South Africa (1992 - 2023)

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 1992-2022	449.94%
Cumulative inflation 1992-today	488.46%
Avg. Annual inflation 1992-2022	5.85%
CPI 1992	25.64
CPI 2022	140.98
CPI 2023-08 (latest official data)	150.42
CPI today	150.86

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:

Value_t =Value₀ ×

CPI_t/CPI₀

To obtain the values equivalent in buying power between 1992 and 2022, use the corresponding CPI values:

Value₂₀₂₂

=Value₁₉₉₂ ×

CPI₂₀₂₂/CPI₁₉₉₂

=R 100 ×

140.98/25.64

≈R549.94

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 150.86:

Value_today

=Value₁₉₉₂ ×

CPI_today/CPI₁₉₉₂

=R 100 ×

150.86/25.64

≈R588.46

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 30 years between 1992 and 2022 and the average inflation rate was 5.8466%. Therefore, we can resolve the formula like this:

Value₂₀₂₂

=PV × (1 + i)ⁿ

=R100 × (1 + 0.058466)³⁰

≈R549.94

South Africa inflation - Conversion table

Initial Value		Equivalent value
R1 rand in 1992	→	R5.5 rand in 2022
R5 rand in 1992	→	R27.5 rand in 2022
R10 rand in 1992	→	R54.99 rand in 2022
R50 rand in 1992	→	R274.97 rand in 2022
R100 rand in 1992	→	R549.94 rand in 2022
R500 rand in 1992	→	R2,749.68 rand in 2022
R1,000 rand in 1992	→	R5,499.35 rand in 2022
R5,000 rand in 1992	→	R27,496.77 rand in 2022
R10,000 rand in 1992	→	R54,993.53 rand in 2022
R50,000 rand in 1992	→	R274,967.66 rand in 2022
R100,000 rand in 1992	→	R549,935.33 rand in 2022
R500,000 rand in 1992	→	R2,749,676.63 rand in 2022
R1,000,000 rand in 1992	→	R5,499,353.25 rand in 2022

Cumulative inflation From 1992	488.46%
Avg. annual inflation From 1992	5.88%
CPI 1992	25.64
CPI today	150.86

Value of Rand over time (by year)

Period	Value
1992	100
1993	109.72
1994	119.52
1995	129.9
1996	139.45
1997	151.44
1998	161.86
1999	170.25
2000	179.34
2001	189.56
2002	207.56
2003	219.35
2004	217.83
2005	222.33
2006	229.54
2007	243.72
2008	268.27
2009	287.63
2010	299.39
2011	314.36
2012	332.36
2013	351.58
2014	373.13
2015	390.08
2016	415.71
2017	437.26
2018	457.01
2019	475.84
2020	491.12
2021	513.77
2022	549.94
2023-08	586.76
Today	588.46