Value of 1956 Turkish Lira today

₺100 in 1956

₺806,272,640 in 2020

The inflation rate in Turkey between 1956 and today has been 806,272,540%, which translates into a total increase of ₺806,272,540. This means that 100 lira in 1956 are equivalent to 806,272,640 lira in 2020. In other words, the purchasing power of ₺100 in 1956 equals ₺806,272,640 today. The average annual inflation rate has been 27.72%.

Inflation timeline in Turkey (1956-2020)

The following chart depicts the equivalence of ₺100 throughout the years due to 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 (TRY) 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 obtained by estimating figures from recent trends.

The following table contains relevant indicators:

Indicator Value
Total Inflation (1956-2020) 804,421,196.08%
Total Inflation* 806,272,540%
Annual inflation avg. (1956-2020) 28.2%
Annual inflation avg.* 27.72%
CPI 1956 0
CPI 2020 169.04
CPI today* 169.43
₺1 in 1956 ₺8,044,212.96 in 2020

* Values extrapolated from the last official data to obtain today's values.

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 compound interest formula or the Consumer Price Index (CPI) formula.

Using the compound interest formula

Given that money changes with time as a result of an inflation rate that acts as a compound interest, the following formula can be used: 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 ₺100 worth today. There are 64 years between 1956 and 2020 and the average inflation rate has been 27.7184%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = ₺100 * (1 + 0.28)64 = ₺804,421,296.08

Using the CPI formula

When the CPI for both start and end years is known, the following formula can be used:

Final value = Initial value *
CPI final/CPI initial

In this case, the CPI in 1956 was 0 and the CPI today is 169.43. Therefore,

Final value = Initial value *
CPI final/CPI initial
= ₺100 *
169.04/0
= ₺804,421,296.08

Turkey inflation - Conversion table

Initial Value Equivalent value
₺1 lira in 1956 ₺8,062,726.4 lira today
₺5 lira in 1956 ₺40,313,632 lira today
₺10 lira in 1956 ₺80,627,264 lira today
₺50 lira in 1956 ₺403,136,320 lira today
₺100 lira in 1956 ₺806,272,640 lira today
₺500 lira in 1956 ₺4,031,363,199.98 lira today
₺1,000 lira in 1956 ₺8,062,726,399.97 lira today
₺5,000 lira in 1956 ₺40,313,631,999.85 lira today
₺10,000 lira in 1956 ₺80,627,263,999.7 lira today
₺50,000 lira in 1956 ₺403,136,319,998.5 lira today
₺100,000 lira in 1956 ₺806,272,639,996.99 lira today
₺500,000 lira in 1956 ₺4,031,363,199,984.97 lira today
₺1,000,000 lira in 1956 ₺8,062,726,399,969.94 lira today

Value of Lira over time (by year)

Period Value
1956 100
1957 106.92
1958 121.54
1959 152.31
1960 178.46
1961 173.85
1962 184.62
1963 193.85
1964 202.31
1965 205.38
1966 216.92
1967 240.77
1968 270.77
1969 285.81
1970 302.79
1971 330.89
1972 408.3
1973 453.17
1974 542.72
1975 676.33
1976 786.28
1977 938.29
1978 1,377.11
1979 2,120.34
1980 3,855.62
1981 6,750.12
1982 8,680.46
1983 11,253.54
1984 15,423.96
1985 23,087.18
1986 33,290.2
1987 43,500.53
1988 67,448.11
1989 108,972.74
1990 179,019.33
1991 287,170.39
1992 491,455.78
1993 815,652.27
1994 1,395,385.03
1995 3,074,186.98
1996 5,412,016.64
1997 9,728,526.42
1998 19,368,955.28
1999 32,874,147.01
2000 55,488,955.09
2001 77,148,309.24
2002 130,019,367.86
2003 168,698,546.7
2004 190,139,286.77
2005 207,926,069.04
2006 223,977,976.8
2007 245,599,642.15
2008 266,198,665.66
2009 292,988,360.25
2010 312,108,193.51
2011 332,086,351.13
2012 366,783,317.95
2013 389,391,078.41
2014 418,207,830.9
2015 452,375,203.43
2016 492,221,926.13
2017 534,223,525.04
2018 597,901,419.04
2019 719,286,006.61
2020 804,421,296.08
Today 806,272,640