R

Value of 2016 South African Rand today

R100 in 2016
R136.34 in 2022

The inflation rate in South Africa between 2016 and today has been 36.34%, which translates into a total increase of R36.34. This means that 100 rand in 2016 are equivalent to 136.34 rand in 2022. In other words, the purchasing power of R100 in 2016 equals R136.34 today. The average annual inflation rate between these periods has been 5.3%.

Inflation timeline in South Africa (2016 - 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 2016-2021 23.59%
Cumulative inflation 2016-today 36.34%
Avg. Annual inflation 2016-2021 4.33%
CPI 2016 106.57
CPI 2021 131.71
CPI 2022-09 (latest official data) 143.67
CPI today 145.3

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 2016 and 2021, use the corresponding CPI values:

Value2021
=Value2016 ×
CPI2021/CPI2016
=R 100 ×
131.71/106.57
R123.59

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 145.3:

Valuetoday
=Value2016 ×
CPItoday/CPI2016
=R 100 ×
145.3/106.57
R136.34

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 5 years between 2016 and 2021 and the average inflation rate was 4.3266%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=R100 × (1 + 0.043266)5
R123.59

South Africa inflation - Conversion table

Initial Value Equivalent value
R1 rand in 2016 R1.24 rand in 2021
R5 rand in 2016 R6.18 rand in 2021
R10 rand in 2016 R12.36 rand in 2021
R50 rand in 2016 R61.79 rand in 2021
R100 rand in 2016 R123.59 rand in 2021
R500 rand in 2016 R617.94 rand in 2021
R1,000 rand in 2016 R1,235.88 rand in 2021
R5,000 rand in 2016 R6,179.39 rand in 2021
R10,000 rand in 2016 R12,358.78 rand in 2021
R50,000 rand in 2016 R61,793.88 rand in 2021
R100,000 rand in 2016 R123,587.75 rand in 2021
R500,000 rand in 2016 R617,938.77 rand in 2021
R1,000,000 rand in 2016 R1,235,877.54 rand in 2021
Cumulative inflation From 2016 36.34%
Avg. annual inflation From 2016 5.3%
CPI 2016 106.57
CPI today 145.3

Value of Rand over time (by year)

Period Value
2016 100
2017 105.18
2018 109.94
2019 114.47
2020 118.14
2021 123.59
2022-09 134.81
Today 136.34

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 |

Other currencies: