# Value of 1996 South African Rand today

R100 in 1996

R349.81 in 2019

The inflation rate in South Africa between 1996 and today has been 249.81%, which translates into a total increase of R249.81. This means that 100 rand in 1996 are equivalent to 349.81 rand in 2019. In other words, the purchasing power of R100 in 1996 equals R349.81 today. The average annual inflation rate has been 5.36%.

## Inflation timeline in South Africa (1996-2019)

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 (1996-2019) 248.91%
Total Inflation* 249.81%
Annual inflation avg. (1996-2019) 5.58%
Annual inflation avg.* 5.36%
CPI 1996 34.08
CPI 2019 118.92
CPI today* 119.23
R1 in 1996 R3.49 in 2019

* 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 23 years between 1996 and 2019 and the average inflation rate has been 5.3561%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = R100 * (1 + 0.05)23 = R348.91

#### 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 1996 was 34.08 and the CPI today is 119.23. Therefore,

Final value = Initial value *
CPI final/CPI initial
= R100 *
118.92/34.08
= R348.91

### South Africa inflation - Conversion table

Initial Value Equivalent value
R1 rand in 1996 R3.5 rand today
R5 rand in 1996 R17.49 rand today
R10 rand in 1996 R34.98 rand today
R50 rand in 1996 R174.9 rand today
R100 rand in 1996 R349.81 rand today
R500 rand in 1996 R1,749.04 rand today
R1,000 rand in 1996 R3,498.09 rand today
R5,000 rand in 1996 R17,490.44 rand today
R10,000 rand in 1996 R34,980.89 rand today
R50,000 rand in 1996 R174,904.43 rand today
R100,000 rand in 1996 R349,808.86 rand today
R500,000 rand in 1996 R1,749,044.32 rand today
R1,000,000 rand in 1996 R3,498,088.63 rand today

Period Value
1996 100
1997 109.31
1998 116.06
1999 126.45
2000 129.28
2001 138.33
2002 144.67
2003 164.21
2004 161.53
2005 165.08
2006 168.41
2007 176.52
2008 189.88
2009 207.56
2010 220.35
2011 227.7
2012 242.1
2013 256.17
2014 269.6
2015 283.99
2016 298.7
2017 319.81
2018 334.2
2019 348.91
Today 349.81