R

Value of 1999 South African Rand today

R100 in 1999
R358.47 in 2024

The inflation rate in South Africa between 1999 and today has been 258.47%, which translates into a total increase of R258.47. This means that 100 rand in 1999 are equivalent to 358.47 rand in 2024. In other words, the purchasing power of R100 in 1999 equals R358.47 today. The average annual inflation rate between these periods has been 5.24%.

Inflation timeline in South Africa (1999 - 2024)

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 1999-2023 242.64%
Cumulative inflation 1999-today 258.47%
Avg. Annual inflation 1999-2023 5.27%
CPI 1999 43.65
CPI 2023 149.54
CPI 2024-04 (latest official data) 155.82
CPI today 156.45

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 1999 and 2023, use the corresponding CPI values:

Value2023
=Value1999 ×
CPI2023/CPI1999
=R 100 ×
149.54/43.65
R342.64

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 156.45:

Valuetoday
=Value1999 ×
CPItoday/CPI1999
=R 100 ×
156.45/43.65
R358.47

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 1999 and 2023 and the average inflation rate was 5.2652%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=R100 × (1 + 0.052652)24
R342.64

South Africa inflation - Conversion table

Initial Value Equivalent value
R1 rand in 1999 R3.43 rand in 2023
R5 rand in 1999 R17.13 rand in 2023
R10 rand in 1999 R34.26 rand in 2023
R50 rand in 1999 R171.32 rand in 2023
R100 rand in 1999 R342.64 rand in 2023
R500 rand in 1999 R1,713.18 rand in 2023
R1,000 rand in 1999 R3,426.37 rand in 2023
R5,000 rand in 1999 R17,131.84 rand in 2023
R10,000 rand in 1999 R34,263.69 rand in 2023
R50,000 rand in 1999 R171,318.43 rand in 2023
R100,000 rand in 1999 R342,636.85 rand in 2023
R500,000 rand in 1999 R1,713,184.27 rand in 2023
R1,000,000 rand in 1999 R3,426,368.53 rand in 2023
Cumulative inflation From 1999 258.47%
Avg. annual inflation From 1999 5.24%
CPI 1999 43.65
CPI today 156.45

Value of Rand over time (by year)

Period Value
1999 100
2000 105.34
2001 111.35
2002 121.92
2003 128.84
2004 127.95
2005 130.59
2006 134.83
2007 143.15
2008 157.58
2009 168.95
2010 175.86
2011 184.65
2012 195.22
2013 206.51
2014 219.17
2015 229.12
2016 244.18
2017 256.84
2018 268.44
2019 279.5
2020 288.47
2021 301.77
2022 323.02
2023 342.64
2024-04 357.02
Today 358.47

All available years

Today's value of south african rand by year:

1957 | 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 | 2022 | 2023 |

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