R

Value of 1993 South African Rand today

R100 in 1993
R498.57 in 2022

The inflation rate in South Africa between 1993 and today has been 398.57%, which translates into a total increase of R398.57. This means that 100 rand in 1993 are equivalent to 498.57 rand in 2022. In other words, the purchasing power of R100 in 1993 equals R498.57 today. The average annual inflation rate between these periods has been 5.7%.

Inflation timeline in South Africa (1993 - 2022)

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 1993-2021 368.26%
Cumulative inflation 1993-today 398.57%
Avg. Annual inflation 1993-2021 5.67%
CPI 1993 28.13
CPI 2021 131.71
CPI 2022-05 (latest official data) 139.35
CPI today 140.23

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 1993 and 2021, use the corresponding CPI values:

Value2021
=Value1993 ×
CPI2021/CPI1993
=R 100 ×
131.71/28.13
R468.26

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 140.23:

Valuetoday
=Value1993 ×
CPItoday/CPI1993
=R 100 ×
140.23/28.13
R498.57

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 28 years between 1993 and 2021 and the average inflation rate was 5.6686%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=R100 × (1 + 0.056686)28
R468.26

South Africa inflation - Conversion table

Initial Value Equivalent value
R1 rand in 1993 R4.68 rand in 2021
R5 rand in 1993 R23.41 rand in 2021
R10 rand in 1993 R46.83 rand in 2021
R50 rand in 1993 R234.13 rand in 2021
R100 rand in 1993 R468.26 rand in 2021
R500 rand in 1993 R2,341.32 rand in 2021
R1,000 rand in 1993 R4,682.64 rand in 2021
R5,000 rand in 1993 R23,413.2 rand in 2021
R10,000 rand in 1993 R46,826.41 rand in 2021
R50,000 rand in 1993 R234,132.04 rand in 2021
R100,000 rand in 1993 R468,264.08 rand in 2021
R500,000 rand in 1993 R2,341,320.41 rand in 2021
R1,000,000 rand in 1993 R4,682,640.81 rand in 2021
Cumulative inflation From 1993 398.57%
Avg. annual inflation From 1993 5.7%
CPI 1993 28.13
CPI today 140.23

Value of Rand over time (by year)

Period Value
1993 100
1994 108.94
1995 118.39
1996 127.1
1997 138.03
1998 147.53
1999 155.17
2000 163.46
2001 172.78
2002 189.18
2003 199.92
2004 198.54
2005 202.64
2006 209.21
2007 222.13
2008 244.51
2009 262.16
2010 272.88
2011 286.52
2012 302.92
2013 320.44
2014 340.09
2015 355.53
2016 378.89
2017 398.53
2018 416.54
2019 433.7
2020 447.62
2021 468.26
2022-05 495.43
Today 498.57

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 |

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