Value of 1956 Turkish Lira today

₺100 in 1956
₺1,830,221,951.42 in 2022

The inflation rate in Turkey between 1956 and today has been 1,830,221,851.42%, which translates into a total increase of ₺1,830,221,851.42. This means that 100 lira in 1956 are equivalent to 1,830,221,951.42 lira in 2022. In other words, the purchasing power of ₺100 in 1956 equals ₺1,830,221,951.42 today. The average annual inflation rate between these periods has been 28.84%.

Inflation timeline in Turkey (1956 - 2022)

The following chart depicts the equivalence of ₺100 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 (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 extrapolated from the latest 12-month rolling average official data.

The following table contains relevant indicators:

Indicator Value
Cumulative inflation 1956-2021 979,745,417.69%
Cumulative inflation 1956-today 1,830,221,851.42%
Avg. Annual inflation 1956-2021 28.1%
CPI 1956 0
CPI 2021 215.52
CPI 2022-08 (latest official data) 389.76
CPI today 402.6

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 1956 and 2021, use the corresponding CPI values:

Value2021
=Value1956 ×
CPI2021/CPI1956
=₺ 100 ×
215.52/0.00002
₺979,745,517.69

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 402.6:

Valuetoday
=Value1956 ×
CPItoday/CPI1956
=₺ 100 ×
402.6/0.00002
₺1,830,221,951.42

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 ₺100 worth today. There are 65 years between 1956 and 2021 and the average inflation rate was 28.1019%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=₺100 × (1 + 0.281019)65
₺979,745,517.69

Turkey inflation - Conversion table

Initial Value Equivalent value
₺1 lira in 1956 ₺9,797,455.18 lira in 2021
₺5 lira in 1956 ₺48,987,275.88 lira in 2021
₺10 lira in 1956 ₺97,974,551.77 lira in 2021
₺50 lira in 1956 ₺489,872,758.85 lira in 2021
₺100 lira in 1956 ₺979,745,517.69 lira in 2021
₺500 lira in 1956 ₺4,898,727,588.46 lira in 2021
₺1,000 lira in 1956 ₺9,797,455,176.93 lira in 2021
₺5,000 lira in 1956 ₺48,987,275,884.64 lira in 2021
₺10,000 lira in 1956 ₺97,974,551,769.28 lira in 2021
₺50,000 lira in 1956 ₺489,872,758,846.42 lira in 2021
₺100,000 lira in 1956 ₺979,745,517,692.84 lira in 2021
₺500,000 lira in 1956 ₺4,898,727,588,464.2 lira in 2021
₺1,000,000 lira in 1956 ₺9,797,455,176,928.39 lira in 2021
Cumulative inflation From 1956 1,830,221,851.42%
Avg. annual inflation From 1956 28.84%
CPI 1956 0.00002
CPI today 402.6

Value of Lira over time (by year)

Period Value
1956 100
1957 111.63
1958 125.47
1959 158.91
1960 167.91
1961 173.24
1962 179.98
1963 191.43
1964 193.57
1965 202.39
1966 219.53
1967 250.21
1968 265.34
1969 278.41
1970 300.47
1971 357.59
1972 412.72
1973 470.25
1974 582.63
1975 706.3
1976 829.59
1977 1,045.17
1978 1,692.09
1979 2,767.3
1980 5,375.79
1981 7,397.88
1982 9,553.43
1983 12,552.28
1984 18,626.63
1985 27,001.48
1986 36,346.71
1987 50,469.55
1988 85,197.43
1989 139,104.04
1990 222,989.14
1991 370,114.19
1992 629,475.94
1993 1,045,520.42
1994 2,145,564.97
1995 4,057,549.01
1996 7,320,312.22
1997 13,591,573.63
1998 25,095,664.98
1999 41,374,595.41
2000 64,095,628.61
2001 98,963,750.59
2002 143,461,923.12
2003 174,453,167.62
2004 189,453,122.16
2005 204,948,812.6
2006 224,618,231.08
2007 244,286,194.86
2008 269,799,796.34
2009 286,664,908.9
2010 311,221,906.03
2011 331,363,785.14
2012 360,827,272.07
2013 387,864,357.93
2014 422,208,104.52
2015 454,595,046.73
2016 489,940,266.21
2017 544,540,768.08
2018 633,477,743.03
2019 729,619,594.86
2020 819,209,368.29
2021 979,745,517.69
2022-08 1,771,819,198.46
Today 1,830,221,951.42

All available years

Today's value of turkish lira by year:

1956 | 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 |

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