Value of 1960 Turkish Lira today

₺100 in 1960

₺407,593,693.69 in 2019

The inflation rate in Turkey between 1960 and today has been 407,593,593.69%, which translates into a total increase of ₺407,593,593.69. This means that 100 lira in 1960 are equivalent to 407,593,693.69 lira in 2019. In other words, the purchasing power of ₺100 in 1960 equals ₺407,593,693.69 today. The average annual inflation rate has been 28.88%.

Inflation timeline in Turkey (1960-2019)

The following chart ilustrates the equivalence of ₺100 throughout the years due to inflation and CPI changes. All values are equivalent in terms of purchashing 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 (1960-2019) 403,047,713.07%
Total Inflation* 407,593,593.69%
Annual inflation avg. (1960-2019) 29.41%
Annual inflation avg.* 28.88%
CPI 1960 0
CPI 2019 151.15
CPI today* 152.86
₺1 in 1960 ₺4,030,478.13 in 2019

* 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 in 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 59 years between 1960 and 2019 and the average inflation rate has been 28.8755%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = ₺100 * (1 + 0.29)59 = ₺403,047,813.07

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 1960 was 0 and the CPI today is 152.86. Therefore,

Final value = Initial value *
CPI final/CPI initial
= ₺100 *
151.15/0
= ₺403,047,813.07

Turkey inflation - Conversion table

Initial Value Equivalent value
₺1 lira in 1960 ₺4,075,936.94 lira today
₺5 lira in 1960 ₺20,379,684.68 lira today
₺10 lira in 1960 ₺40,759,369.37 lira today
₺50 lira in 1960 ₺203,796,846.85 lira today
₺100 lira in 1960 ₺407,593,693.69 lira today
₺500 lira in 1960 ₺2,037,968,468.45 lira today
₺1,000 lira in 1960 ₺4,075,936,936.91 lira today
₺5,000 lira in 1960 ₺20,379,684,684.54 lira today
₺10,000 lira in 1960 ₺40,759,369,369.07 lira today
₺50,000 lira in 1960 ₺203,796,846,845.37 lira today
₺100,000 lira in 1960 ₺407,593,693,690.74 lira today
₺500,000 lira in 1960 ₺2,037,968,468,453.7 lira today
₺1,000,000 lira in 1960 ₺4,075,936,936,907.4 lira today

Value of Lira in time (by year)

Period Value
1960 100
1961 97.41
1962 103.45
1963 108.62
1964 113.36
1965 115.09
1966 121.55
1967 134.91
1968 151.72
1969 160.15
1970 169.67
1971 185.41
1972 228.79
1973 253.93
1974 304.11
1975 378.98
1976 440.59
1977 525.76
1978 771.66
1979 1,188.12
1980 2,160.48
1981 3,782.39
1982 4,864.05
1983 6,305.86
1984 8,642.73
1985 12,936.77
1986 18,653.97
1987 24,375.27
1988 37,794.16
1989 61,062.25
1990 100,312.46
1991 160,914.29
1992 275,384.44
1993 457,046.1
1994 781,896.04
1995 1,722,603.15
1996 3,032,592.67
1997 5,451,324.32
1998 10,853,283.67
1999 18,420,840.86
2000 31,092,919.63
2001 43,229,615.25
2002 72,855,611.52
2003 94,529,268.87
2004 106,543,465.33
2005 116,510,187.38
2006 125,504,782.37
2007 137,620,359.28
2008 149,162,904.68
2009 164,174,357.31
2010 174,888,046.87
2011 186,082,693.59
2012 205,524,941.14
2013 218,193,070.82
2014 234,340,373.79
2015 253,485,866.2
2016 275,813,750.09
2017 299,349,106.59
2018 335,030,651.45
2019 403,047,813.07
Today 407,593,693.69