Value of 1961 Turkish Lira today

₺100 in 1961

₺418,414,913.31 in 2019

The inflation rate in Turkey between 1961 and today has been 418,414,813.31%, which translates into a total increase of ₺418,414,813.31. This means that 100 lira in 1961 are equivalent to 418,414,913.31 lira in 2019. In other words, the purchasing power of ₺100 in 1961 equals ₺418,414,913.31 today. The average annual inflation rate has been 29.49%.

Inflation timeline in Turkey (1961-2019)

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 (1961-2019) 413,748,243.94%
Total Inflation* 418,414,813.31%
Annual inflation avg. (1961-2019) 30.04%
Annual inflation avg.* 29.49%
CPI 1961 0
CPI 2019 151.15
CPI today* 152.86
₺1 in 1961 ₺4,137,483.44 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 58 years between 1961 and 2019 and the average inflation rate has been 29.4883%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = ₺100 * (1 + 0.29)58 = ₺413,748,343.94

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 1961 was 0 and the CPI today is 152.86. Therefore,

Final value = Initial value *
CPI final/CPI initial
= ₺100 *
151.15/0
= ₺413,748,343.94

Turkey inflation - Conversion table

Initial Value Equivalent value
₺1 lira in 1961 ₺4,184,149.13 lira today
₺5 lira in 1961 ₺20,920,745.67 lira today
₺10 lira in 1961 ₺41,841,491.33 lira today
₺50 lira in 1961 ₺209,207,456.65 lira today
₺100 lira in 1961 ₺418,414,913.31 lira today
₺500 lira in 1961 ₺2,092,074,566.54 lira today
₺1,000 lira in 1961 ₺4,184,149,133.07 lira today
₺5,000 lira in 1961 ₺20,920,745,665.35 lira today
₺10,000 lira in 1961 ₺41,841,491,330.7 lira today
₺50,000 lira in 1961 ₺209,207,456,653.52 lira today
₺100,000 lira in 1961 ₺418,414,913,307.04 lira today
₺500,000 lira in 1961 ₺2,092,074,566,535.22 lira today
₺1,000,000 lira in 1961 ₺4,184,149,133,070.44 lira today

Value of Lira in time (by year)

Period Value
1961 100
1962 106.19
1963 111.5
1964 116.37
1965 118.14
1966 124.78
1967 138.5
1968 155.75
1969 164.4
1970 174.17
1971 190.33
1972 234.86
1973 260.68
1974 312.18
1975 389.04
1976 452.29
1977 539.72
1978 792.14
1979 1,219.66
1980 2,217.83
1981 3,882.81
1982 4,993.18
1983 6,473.27
1984 8,872.18
1985 13,280.23
1986 19,149.22
1987 25,022.41
1988 38,797.56
1989 62,683.4
1990 102,975.66
1991 165,186.41
1992 282,695.63
1993 469,180.23
1994 802,654.63
1995 1,768,336.6
1996 3,113,105.08
1997 5,596,051.72
1998 11,141,427.88
1999 18,909,896.42
2000 31,918,406.67
2001 44,377,319.86
2002 74,789,857.77
2003 97,038,929.83
2004 109,372,091.62
2005 119,603,420.53
2006 128,836,813.35
2007 141,274,047.15
2008 153,123,035.99
2009 168,533,028.22
2010 179,531,155.91
2011 191,023,009.71
2012 210,981,430.18
2013 223,985,886.5
2014 240,561,884.79
2015 260,215,671.57
2016 283,136,339.25
2017 307,296,536.77
2018 343,925,392.25
2019 413,748,343.94
Today 418,414,913.31