Value of 1999 South African Rand today

R100 in 1999

R276.44 today

The inflation rate in South Africa between 1999 and today has been 176.44%, which translates into a total increase of R176.44. This means that 100 rand in 1999 are equivalent to 276.44 rand in 2018. In other words, the purchasing power of R100 in 1999 equals R276.44 today. The average annual inflation rate has been 5.22%.

Inflation timeline in South Africa (1999-2019)

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 (1999-2018) 164.29%
Total Inflation* 176.44%
Annual inflation avg. (1999-2018) 5.25%
Annual inflation avg.* 5.22%
CPI 1999 43.1
CPI 2018 113.91
CPI today* 119.14
R1 in 1999 R2.64 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 19 years between 1999 and 2018 and the average inflation rate has been 5.2156%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = R100 * (1 + 0.05)19 = R264.29

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 1999 was 43.1 and the CPI today is 119.14. Therefore,

Final value = Initial value *
CPI final/CPI initial
= R100 *
113.91/43.1
= R264.29

South Africa inflation - Conversion table

Initial Value Equivalent value
R1 rand in 1999 R2.76 rand today
R5 rand in 1999 R13.82 rand today
R10 rand in 1999 R27.64 rand today
R50 rand in 1999 R138.22 rand today
R100 rand in 1999 R276.44 rand today
R500 rand in 1999 R1,382.19 rand today
R1,000 rand in 1999 R2,764.39 rand today
R5,000 rand in 1999 R13,821.94 rand today
R10,000 rand in 1999 R27,643.88 rand today
R50,000 rand in 1999 R138,219.38 rand today
R100,000 rand in 1999 R276,438.76 rand today
R500,000 rand in 1999 R1,382,193.79 rand today
R1,000,000 rand in 1999 R2,764,387.59 rand today

Value of Rand in time (by year)

Period Value
1999 100
2000 102.24
2001 109.39
2002 114.41
2003 129.86
2004 127.74
2005 130.55
2006 133.18
2007 139.6
2008 150.16
2009 164.14
2010 174.26
2011 180.07
2012 191.46
2013 202.58
2014 213.21
2015 224.59
2016 236.22
2017 252.91
2018 264.29
Today 276.44