R

Value of 2002 South African Rand today

R100 in 2002
R262.76 in 2022

The inflation rate in South Africa between 2002 and today has been 162.76%, which translates into a total increase of R162.76. This means that 100 rand in 2002 are equivalent to 262.76 rand in 2022. In other words, the purchasing power of R100 in 2002 equals R262.76 today. The average annual inflation rate between these periods has been 4.95%.

Inflation timeline in South Africa (2002 - 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 2002-2021 147.52%
Cumulative inflation 2002-today 162.76%
Avg. Annual inflation 2002-2021 4.89%
CPI 2002 53.21
CPI 2021 131.71
CPI 2022-04 (latest official data) 138.4
CPI today 139.81

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 2002 and 2021, use the corresponding CPI values:

Value2021
=Value2002 ×
CPI2021/CPI2002
=R 100 ×
131.71/53.21
R247.52

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 139.81:

Valuetoday
=Value2002 ×
CPItoday/CPI2002
=R 100 ×
139.81/53.21
R262.76

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 19 years between 2002 and 2021 and the average inflation rate was 4.8858%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=R100 × (1 + 0.048858)19
R247.52

South Africa inflation - Conversion table

Initial Value Equivalent value
R1 rand in 2002 R2.48 rand in 2021
R5 rand in 2002 R12.38 rand in 2021
R10 rand in 2002 R24.75 rand in 2021
R50 rand in 2002 R123.76 rand in 2021
R100 rand in 2002 R247.52 rand in 2021
R500 rand in 2002 R1,237.61 rand in 2021
R1,000 rand in 2002 R2,475.23 rand in 2021
R5,000 rand in 2002 R12,376.14 rand in 2021
R10,000 rand in 2002 R24,752.29 rand in 2021
R50,000 rand in 2002 R123,761.44 rand in 2021
R100,000 rand in 2002 R247,522.88 rand in 2021
R500,000 rand in 2002 R1,237,614.38 rand in 2021
R1,000,000 rand in 2002 R2,475,228.77 rand in 2021
Cumulative inflation From 2002 162.76%
Avg. annual inflation From 2002 4.95%
CPI 2002 53.21
CPI today 139.81

Value of Rand over time (by year)

Period Value
2002 100
2003 105.68
2004 104.95
2005 107.11
2006 110.59
2007 117.42
2008 129.25
2009 138.57
2010 144.24
2011 151.45
2012 160.12
2013 169.39
2014 179.77
2015 187.93
2016 200.28
2017 210.66
2018 220.18
2019 229.25
2020 236.61
2021 247.52
2022-04 260.11
Today 262.76

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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