R

Value of 1997 South African Rand today

R100 in 1997
R361.2 in 2022

The inflation rate in South Africa between 1997 and today has been 261.2%, which translates into a total increase of R261.2. This means that 100 rand in 1997 are equivalent to 361.2 rand in 2022. In other words, the purchasing power of R100 in 1997 equals R361.2 today. The average annual inflation rate between these periods has been 5.27%.

Inflation timeline in South Africa (1997 - 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 1997-2021 239.25%
Cumulative inflation 1997-today 261.2%
Avg. Annual inflation 1997-2021 5.22%
CPI 1997 38.82
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 1997 and 2021, use the corresponding CPI values:

Value2021
=Value1997 ×
CPI2021/CPI1997
=R 100 ×
131.71/38.82
R339.25

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

Valuetoday
=Value1997 ×
CPItoday/CPI1997
=R 100 ×
140.23/38.82
R361.2

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 24 years between 1997 and 2021 and the average inflation rate was 5.2216%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=R100 × (1 + 0.052216)24
R339.25

South Africa inflation - Conversion table

Initial Value Equivalent value
R1 rand in 1997 R3.39 rand in 2021
R5 rand in 1997 R16.96 rand in 2021
R10 rand in 1997 R33.92 rand in 2021
R50 rand in 1997 R169.62 rand in 2021
R100 rand in 1997 R339.25 rand in 2021
R500 rand in 1997 R1,696.24 rand in 2021
R1,000 rand in 1997 R3,392.49 rand in 2021
R5,000 rand in 1997 R16,962.44 rand in 2021
R10,000 rand in 1997 R33,924.88 rand in 2021
R50,000 rand in 1997 R169,624.39 rand in 2021
R100,000 rand in 1997 R339,248.78 rand in 2021
R500,000 rand in 1997 R1,696,243.9 rand in 2021
R1,000,000 rand in 1997 R3,392,487.8 rand in 2021
Cumulative inflation From 1997 261.2%
Avg. annual inflation From 1997 5.27%
CPI 1997 38.82
CPI today 140.23

Value of Rand over time (by year)

Period Value
1997 100
1998 106.88
1999 112.42
2000 118.42
2001 125.17
2002 137.06
2003 144.84
2004 143.84
2005 146.81
2006 151.57
2007 160.93
2008 177.15
2009 189.93
2010 197.69
2011 207.58
2012 219.46
2013 232.16
2014 246.39
2015 257.57
2016 274.5
2017 288.73
2018 301.77
2019 314.21
2020 324.29
2021 339.25
2022-05 358.93
Today 361.2

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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