R

Value of 2004 South African Rand today

R100 in 2004
R248.63 in 2022

The inflation rate in South Africa between 2004 and today has been 148.63%, which translates into a total increase of R148.63. This means that 100 rand in 2004 are equivalent to 248.63 rand in 2022. In other words, the purchasing power of R100 in 2004 equals R248.63 today. The average annual inflation rate between these periods has been 5.19%.

Inflation timeline in South Africa (2004 - 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 2004-2021 135.85%
Cumulative inflation 2004-today 148.63%
Avg. Annual inflation 2004-2021 5.18%
CPI 2004 55.84
CPI 2021 131.71
CPI 2022-03 (latest official data) 137.59
CPI today 138.85

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 2004 and 2021, use the corresponding CPI values:

Value2021
=Value2004 ×
CPI2021/CPI2004
=R 100 ×
131.71/55.84
R235.85

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 138.85:

Valuetoday
=Value2004 ×
CPItoday/CPI2004
=R 100 ×
138.85/55.84
R248.63

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 17 years between 2004 and 2021 and the average inflation rate was 5.1768%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=R100 × (1 + 0.051768)17
R235.85

South Africa inflation - Conversion table

Initial Value Equivalent value
R1 rand in 2004 R2.36 rand in 2021
R5 rand in 2004 R11.79 rand in 2021
R10 rand in 2004 R23.59 rand in 2021
R50 rand in 2004 R117.93 rand in 2021
R100 rand in 2004 R235.85 rand in 2021
R500 rand in 2004 R1,179.26 rand in 2021
R1,000 rand in 2004 R2,358.53 rand in 2021
R5,000 rand in 2004 R11,792.63 rand in 2021
R10,000 rand in 2004 R23,585.27 rand in 2021
R50,000 rand in 2004 R117,926.35 rand in 2021
R100,000 rand in 2004 R235,852.69 rand in 2021
R500,000 rand in 2004 R1,179,263.46 rand in 2021
R1,000,000 rand in 2004 R2,358,526.92 rand in 2021
Cumulative inflation From 2004 148.63%
Avg. annual inflation From 2004 5.19%
CPI 2004 55.84
CPI today 138.85

Value of Rand over time (by year)

Period Value
2004 100
2005 102.06
2006 105.37
2007 111.88
2008 123.16
2009 132.04
2010 137.44
2011 144.31
2012 152.57
2013 161.4
2014 171.29
2015 179.07
2016 190.84
2017 200.73
2018 209.8
2019 218.44
2020 225.46
2021 235.85
2022-03 246.39
Today 248.63

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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