R

Value of 2001 South African Rand today

R100 in 2001
R320.69 in 2024

The inflation rate in South Africa between 2001 and today has been 220.69%, which translates into a total increase of R220.69. This means that 100 rand in 2001 are equivalent to 320.69 rand in 2024. In other words, the purchasing power of R100 in 2001 equals R320.69 today. The average annual inflation rate between these periods has been 5.2%.

Inflation timeline in South Africa (2001 - 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 2001-2023 207.72%
Cumulative inflation 2001-today 220.69%
Avg. Annual inflation 2001-2023 5.24%
CPI 2001 48.6
CPI 2023 149.54
CPI 2024-03 (latest official data) 155.42
CPI today 155.85

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 2001 and 2023, use the corresponding CPI values:

Value2023
=Value2001 ×
CPI2023/CPI2001
=R 100 ×
149.54/48.6
R307.72

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 155.85:

Valuetoday
=Value2001 ×
CPItoday/CPI2001
=R 100 ×
155.85/48.6
R320.69

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 22 years between 2001 and 2023 and the average inflation rate was 5.242%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=R100 × (1 + 0.05242)22
R307.72

South Africa inflation - Conversion table

Initial Value Equivalent value
R1 rand in 2001 R3.08 rand in 2023
R5 rand in 2001 R15.39 rand in 2023
R10 rand in 2001 R30.77 rand in 2023
R50 rand in 2001 R153.86 rand in 2023
R100 rand in 2001 R307.72 rand in 2023
R500 rand in 2001 R1,538.62 rand in 2023
R1,000 rand in 2001 R3,077.25 rand in 2023
R5,000 rand in 2001 R15,386.23 rand in 2023
R10,000 rand in 2001 R30,772.46 rand in 2023
R50,000 rand in 2001 R153,862.32 rand in 2023
R100,000 rand in 2001 R307,724.65 rand in 2023
R500,000 rand in 2001 R1,538,623.23 rand in 2023
R1,000,000 rand in 2001 R3,077,246.46 rand in 2023
Cumulative inflation From 2001 220.69%
Avg. annual inflation From 2001 5.2%
CPI 2001 48.6
CPI today 155.85

Value of Rand over time (by year)

Period Value
2001 100
2002 109.49
2003 115.71
2004 114.91
2005 117.28
2006 121.09
2007 128.57
2008 141.52
2009 151.73
2010 157.94
2011 165.83
2012 175.33
2013 185.47
2014 196.84
2015 205.77
2016 219.3
2017 230.67
2018 241.09
2019 251.02
2020 259.08
2021 271.02
2022 290.1
2023 307.72
2024-03 319.81
Today 320.69

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 | 2022 | 2023 |

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