R

Value of 2018 South African Rand today

R100 in 2018
R133.87 in 2024

The inflation rate in South Africa between 2018 and today has been 33.87%, which translates into a total increase of R33.87. This means that 100 rand in 2018 are equivalent to 133.87 rand in 2024. In other words, the purchasing power of R100 in 2018 equals R133.87 today. The average annual inflation rate between these periods has been 4.98%.

Inflation timeline in South Africa (2018 - 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 2018-2023 27.64%
Cumulative inflation 2018-today 33.87%
Avg. Annual inflation 2018-2023 5%
CPI 2018 117.16
CPI 2023 149.54
CPI 2024-04 (latest official data) 155.82
CPI today 156.85

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 2018 and 2023, use the corresponding CPI values:

Value2023
=Value2018 ×
CPI2023/CPI2018
=R 100 ×
149.54/117.16
R127.64

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 156.85:

Valuetoday
=Value2018 ×
CPItoday/CPI2018
=R 100 ×
156.85/117.16
R133.87

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 2018 and 2023 and the average inflation rate was 5.0021%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=R100 × (1 + 0.050021)5
R127.64

South Africa inflation - Conversion table

Initial Value Equivalent value
R1 rand in 2018 R1.28 rand in 2023
R5 rand in 2018 R6.38 rand in 2023
R10 rand in 2018 R12.76 rand in 2023
R50 rand in 2018 R63.82 rand in 2023
R100 rand in 2018 R127.64 rand in 2023
R500 rand in 2018 R638.21 rand in 2023
R1,000 rand in 2018 R1,276.41 rand in 2023
R5,000 rand in 2018 R6,382.06 rand in 2023
R10,000 rand in 2018 R12,764.12 rand in 2023
R50,000 rand in 2018 R63,820.6 rand in 2023
R100,000 rand in 2018 R127,641.2 rand in 2023
R500,000 rand in 2018 R638,205.99 rand in 2023
R1,000,000 rand in 2018 R1,276,411.98 rand in 2023
Cumulative inflation From 2018 33.87%
Avg. annual inflation From 2018 4.98%
CPI 2018 117.16
CPI today 156.85

Value of Rand over time (by year)

Period Value
2018 100
2019 104.12
2020 107.46
2021 112.42
2022 120.33
2023 127.64
2024-04 133
Today 133.87

All available years

Today's value of south african rand by year:

1957 | 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 |

Other currencies: