Value of 1960 Turkish Lira today

₺100 in 1960
₺983,281,288.84 in 2022

The inflation rate in Turkey between 1960 and today has been 983,281,188.84%, which translates into a total increase of ₺983,281,188.84. This means that 100 lira in 1960 are equivalent to 983,281,288.84 lira in 2022. In other words, the purchasing power of ₺100 in 1960 equals ₺983,281,288.84 today. The average annual inflation rate between these periods has been 29.65%.

Inflation timeline in Turkey (1960 - 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 1960-2021 583,489,131.52%
Cumulative inflation 1960-today 983,281,188.84%
Avg. Annual inflation 1960-2021 29.1%
CPI 1960 0
CPI 2021 215.52
CPI 2022-04 (latest official data) 347.21
CPI today 363.19

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 1960 and 2021, use the corresponding CPI values:

Value2021
=Value1960 ×
CPI2021/CPI1960
=₺ 100 ×
215.52/0.00004
₺583,489,231.52

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 363.19:

Valuetoday
=Value1960 ×
CPItoday/CPI1960
=₺ 100 ×
363.19/0.00004
₺983,281,288.84

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 61 years between 1960 and 2021 and the average inflation rate was 29.0977%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=₺100 × (1 + 0.290977)61
₺583,489,231.52

Turkey inflation - Conversion table

Initial Value Equivalent value
₺1 lira in 1960 ₺5,834,892.32 lira in 2021
₺5 lira in 1960 ₺29,174,461.58 lira in 2021
₺10 lira in 1960 ₺58,348,923.15 lira in 2021
₺50 lira in 1960 ₺291,744,615.76 lira in 2021
₺100 lira in 1960 ₺583,489,231.52 lira in 2021
₺500 lira in 1960 ₺2,917,446,157.59 lira in 2021
₺1,000 lira in 1960 ₺5,834,892,315.19 lira in 2021
₺5,000 lira in 1960 ₺29,174,461,575.95 lira in 2021
₺10,000 lira in 1960 ₺58,348,923,151.9 lira in 2021
₺50,000 lira in 1960 ₺291,744,615,759.48 lira in 2021
₺100,000 lira in 1960 ₺583,489,231,518.96 lira in 2021
₺500,000 lira in 1960 ₺2,917,446,157,594.79 lira in 2021
₺1,000,000 lira in 1960 ₺5,834,892,315,189.58 lira in 2021
Cumulative inflation From 1960 983,281,188.84%
Avg. annual inflation From 1960 29.65%
CPI 1960 0.00004
CPI today 363.19

Value of Lira over time (by year)

Period Value
1960 100
1961 103.17
1962 107.18
1963 114
1964 115.28
1965 120.53
1966 130.74
1967 149.02
1968 158.03
1969 165.81
1970 178.95
1971 212.97
1972 245.8
1973 280.06
1974 346.98
1975 420.64
1976 494.07
1977 622.45
1978 1,007.73
1979 1,648.07
1980 3,201.56
1981 4,405.82
1982 5,689.56
1983 7,475.54
1984 11,093.12
1985 16,080.78
1986 21,646.35
1987 30,057.23
1988 50,739.49
1989 82,843.66
1990 132,801.59
1991 220,422.18
1992 374,885.55
1993 622,661.59
1994 1,277,795.13
1995 2,416,480.72
1996 4,359,625.3
1997 8,094,486.48
1998 14,945,769.09
1999 24,640,715.82
2000 38,172,268.62
2001 58,938,042.32
2002 85,439,010.19
2003 103,895,902.43
2004 112,829,152.74
2005 122,057,639.46
2006 133,771,797.54
2007 145,485,089.27
2008 160,679,761.21
2009 170,723,809.78
2010 185,348,774.25
2011 197,344,307.12
2012 214,891,340.54
2013 230,993,326.38
2014 251,446,807.36
2015 270,734,909.91
2016 291,784,819.89
2017 324,302,248.45
2018 377,268,826.23
2019 434,526,281.59
2020 487,881,634.7
2021 583,489,231.52
2022-04 940,031,946.72
Today 983,281,288.84

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 |

Other currencies: