R

Value of 2015 South African Rand today

R100 in 2015
R146.02 in 2023

The inflation rate in South Africa between 2015 and today has been 46.02%, which translates into a total increase of R46.02. This means that 100 rand in 2015 are equivalent to 146.02 rand in 2023. In other words, the purchasing power of R100 in 2015 equals R146.02 today. The average annual inflation rate between these periods has been 4.85%.

Inflation timeline in South Africa (2015 - 2023)

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 2015-2022 40.98%
Cumulative inflation 2015-today 46.02%
Avg. Annual inflation 2015-2022 5.03%
CPI 2015 100
CPI 2022 140.98
CPI 2022-12 (latest official data) 145.16
CPI today 146.02

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 2015 and 2022, use the corresponding CPI values:

Value2022
=Value2015 ×
CPI2022/CPI2015
=R 100 ×
140.98/100
R140.98

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 146.02:

Valuetoday
=Value2015 ×
CPItoday/CPI2015
=R 100 ×
146.02/100
R146.02

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 7 years between 2015 and 2022 and the average inflation rate was 5.0289%. Therefore, we can resolve the formula like this:

Value2022
=PV × (1 + i)n
=R100 × (1 + 0.050289)7
R140.98

South Africa inflation - Conversion table

Initial Value Equivalent value
R1 rand in 2015 R1.41 rand in 2022
R5 rand in 2015 R7.05 rand in 2022
R10 rand in 2015 R14.1 rand in 2022
R50 rand in 2015 R70.49 rand in 2022
R100 rand in 2015 R140.98 rand in 2022
R500 rand in 2015 R704.91 rand in 2022
R1,000 rand in 2015 R1,409.81 rand in 2022
R5,000 rand in 2015 R7,049.06 rand in 2022
R10,000 rand in 2015 R14,098.12 rand in 2022
R50,000 rand in 2015 R70,490.6 rand in 2022
R100,000 rand in 2015 R140,981.2 rand in 2022
R500,000 rand in 2015 R704,906 rand in 2022
R1,000,000 rand in 2015 R1,409,812 rand in 2022
Cumulative inflation From 2015 46.02%
Avg. annual inflation From 2015 4.85%
CPI 2015 100
CPI today 146.02

Value of Rand over time (by year)

Period Value
2015 100
2016 106.57
2017 112.1
2018 117.16
2019 121.99
2020 125.9
2021 131.71
2022 140.98
2022-12 145.16
Today 146.02

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 |

Other currencies: