Value of 1961 Turkish Lira today

₺100 in 1961
₺1,081,192,350.55 in 2022

The inflation rate in Turkey between 1961 and today has been 1,081,192,250.55%, which translates into a total increase of ₺1,081,192,250.55. This means that 100 lira in 1961 are equivalent to 1,081,192,350.55 lira in 2022. In other words, the purchasing power of ₺100 in 1961 equals ₺1,081,192,350.55 today. The average annual inflation rate between these periods has been 30.41%.

Inflation timeline in Turkey (1961 - 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 1961-2021 565,544,332.34%
Cumulative inflation 1961-today 1,081,192,250.55%
Avg. Annual inflation 1961-2021 29.58%
CPI 1961 0
CPI 2021 215.52
CPI 2022-08 (latest official data) 389.76
CPI today 412.03

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 1961 and 2021, use the corresponding CPI values:

Value2021
=Value1961 ×
CPI2021/CPI1961
=₺ 100 ×
215.52/0.00004
₺565,544,432.34

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 412.03:

Valuetoday
=Value1961 ×
CPItoday/CPI1961
=₺ 100 ×
412.03/0.00004
₺1,081,192,350.55

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 60 years between 1961 and 2021 and the average inflation rate was 29.5809%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=₺100 × (1 + 0.295809)60
₺565,544,432.34

Turkey inflation - Conversion table

Initial Value Equivalent value
₺1 lira in 1961 ₺5,655,444.32 lira in 2021
₺5 lira in 1961 ₺28,277,221.62 lira in 2021
₺10 lira in 1961 ₺56,554,443.23 lira in 2021
₺50 lira in 1961 ₺282,772,216.17 lira in 2021
₺100 lira in 1961 ₺565,544,432.34 lira in 2021
₺500 lira in 1961 ₺2,827,722,161.72 lira in 2021
₺1,000 lira in 1961 ₺5,655,444,323.44 lira in 2021
₺5,000 lira in 1961 ₺28,277,221,617.22 lira in 2021
₺10,000 lira in 1961 ₺56,554,443,234.45 lira in 2021
₺50,000 lira in 1961 ₺282,772,216,172.25 lira in 2021
₺100,000 lira in 1961 ₺565,544,432,344.49 lira in 2021
₺500,000 lira in 1961 ₺2,827,722,161,722.45 lira in 2021
₺1,000,000 lira in 1961 ₺5,655,444,323,444.9 lira in 2021
Cumulative inflation From 1961 1,081,192,250.55%
Avg. annual inflation From 1961 30.41%
CPI 1961 0.00004
CPI today 412.03

Value of Lira over time (by year)

Period Value
1961 100
1962 103.89
1963 110.5
1964 111.74
1965 116.83
1966 126.72
1967 144.43
1968 153.17
1969 160.71
1970 173.44
1971 206.42
1972 238.24
1973 271.44
1974 336.31
1975 407.7
1976 478.87
1977 603.31
1978 976.74
1979 1,597.39
1980 3,103.1
1981 4,270.32
1982 5,514.59
1983 7,245.63
1984 10,751.96
1985 15,586.23
1986 20,980.63
1987 29,132.84
1988 49,179.03
1989 80,295.87
1990 128,717.37
1991 213,643.26
1992 363,356.21
1993 603,512.08
1994 1,238,497.45
1995 2,342,163.56
1996 4,225,548.11
1997 7,845,546.27
1998 14,486,122.52
1999 23,882,908.01
2000 36,998,307.46
2001 57,125,444.45
2002 82,811,393.78
2003 100,700,657.33
2004 109,359,171.84
2005 118,303,842.97
2006 129,657,740.4
2007 141,010,798.12
2008 155,738,168.65
2009 165,473,319.6
2010 179,648,503.61
2011 191,275,122.35
2012 208,282,509.15
2013 223,889,289.79
2014 243,713,738.4
2015 262,408,648.99
2016 282,811,183.86
2017 314,328,561.87
2018 365,666,189.96
2019 421,162,732.72
2020 472,877,179.63
2021 565,544,432.34
2022-08 1,022,757,914.9
Today 1,081,192,350.55

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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