Value of 2001 South African Rand today

R100 in 2001

R263 in 2020

The inflation rate in South Africa between 2001 and today has been 163%, which translates into a total increase of R163. This means that 100 rand in 2001 are equivalent to 263 rand in 2020. In other words, the purchasing power of R100 in 2001 equals R263 today. The average annual inflation rate has been 4.95%.

Inflation timeline in South Africa (2001-2020)

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 (2001-2020) 162.41%
Total Inflation* 163%
Annual inflation avg. (2001-2020) 5.21%
Annual inflation avg.* 4.95%
CPI 2001 47.15
CPI 2020 123.72
CPI today* 123.99
R1 in 2001 R2.62 in 2020

* 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 with 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 2001 and 2020 and the average inflation rate has been 4.9537%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = R100 * (1 + 0.05)19 = R262.41

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 2001 was 47.15 and the CPI today is 123.99. Therefore,

Final value = Initial value *
CPI final/CPI initial
= R100 *
123.72/47.15
= R262.41

South Africa inflation - Conversion table

Initial Value Equivalent value
R1 rand in 2001 R2.63 rand today
R5 rand in 2001 R13.15 rand today
R10 rand in 2001 R26.3 rand today
R50 rand in 2001 R131.5 rand today
R100 rand in 2001 R263 rand today
R500 rand in 2001 R1,315 rand today
R1,000 rand in 2001 R2,629.99 rand today
R5,000 rand in 2001 R13,149.96 rand today
R10,000 rand in 2001 R26,299.93 rand today
R50,000 rand in 2001 R131,499.64 rand today
R100,000 rand in 2001 R262,999.29 rand today
R500,000 rand in 2001 R1,314,996.43 rand today
R1,000,000 rand in 2001 R2,629,992.87 rand today

Value of Rand over time (by year)

Period Value
2001 100
2002 104.59
2003 118.71
2004 116.77
2005 119.34
2006 121.75
2007 127.61
2008 137.27
2009 150.05
2010 159.3
2011 164.61
2012 175.02
2013 185.19
2014 194.9
2015 205.31
2016 215.94
2017 231.2
2018 241.6
2019 252.24
2020 262.41
Today 263