Value of 1962 Turkish Lira today

₺100 in 1962
₺1,047,215,170.65 in 2022

The inflation rate in Turkey between 1962 and today has been 1,047,215,070.65%, which translates into a total increase of ₺1,047,215,070.65. This means that 100 lira in 1962 are equivalent to 1,047,215,170.65 lira in 2022. In other words, the purchasing power of ₺100 in 1962 equals ₺1,047,215,170.65 today. The average annual inflation rate between these periods has been 30.92%.

Inflation timeline in Turkey (1962 - 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 1962-2021 544,376,931.75%
Cumulative inflation 1962-today 1,047,215,070.65%
Avg. Annual inflation 1962-2021 30.07%
CPI 1962 0
CPI 2021 215.52
CPI 2022-08 (latest official data) 389.76
CPI today 414.6

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 1962 and 2021, use the corresponding CPI values:

Value2021
=Value1962 ×
CPI2021/CPI1962
=₺ 100 ×
215.52/0.00004
₺544,377,031.75

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 414.6:

Valuetoday
=Value1962 ×
CPItoday/CPI1962
=₺ 100 ×
414.6/0.00004
₺1,047,215,170.65

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 59 years between 1962 and 2021 and the average inflation rate was 30.0672%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=₺100 × (1 + 0.300672)59
₺544,377,031.75

Turkey inflation - Conversion table

Initial Value Equivalent value
₺1 lira in 1962 ₺5,443,770.32 lira in 2021
₺5 lira in 1962 ₺27,218,851.59 lira in 2021
₺10 lira in 1962 ₺54,437,703.17 lira in 2021
₺50 lira in 1962 ₺272,188,515.87 lira in 2021
₺100 lira in 1962 ₺544,377,031.75 lira in 2021
₺500 lira in 1962 ₺2,721,885,158.74 lira in 2021
₺1,000 lira in 1962 ₺5,443,770,317.48 lira in 2021
₺5,000 lira in 1962 ₺27,218,851,587.38 lira in 2021
₺10,000 lira in 1962 ₺54,437,703,174.77 lira in 2021
₺50,000 lira in 1962 ₺272,188,515,873.84 lira in 2021
₺100,000 lira in 1962 ₺544,377,031,747.68 lira in 2021
₺500,000 lira in 1962 ₺2,721,885,158,738.38 lira in 2021
₺1,000,000 lira in 1962 ₺5,443,770,317,476.75 lira in 2021
Cumulative inflation From 1962 1,047,215,070.65%
Avg. annual inflation From 1962 30.92%
CPI 1962 0.00004
CPI today 414.6

Value of Lira over time (by year)

Period Value
1962 100
1963 106.36
1964 107.55
1965 112.45
1966 121.98
1967 139.03
1968 147.43
1969 154.69
1970 166.95
1971 198.69
1972 229.32
1973 261.28
1974 323.73
1975 392.44
1976 460.95
1977 580.73
1978 940.18
1979 1,537.6
1980 2,986.95
1981 4,110.49
1982 5,308.18
1983 6,974.44
1984 10,349.53
1985 15,002.86
1986 20,195.36
1987 28,042.45
1988 47,338.34
1989 77,290.52
1990 123,899.69
1991 205,646.94
1992 349,756.38
1993 580,923.61
1994 1,192,142.52
1995 2,254,500.22
1996 4,067,392.77
1997 7,551,900.34
1998 13,943,930.71
1999 22,989,009.93
2000 35,613,521.49
2001 54,987,332.76
2002 79,711,899.13
2003 96,931,596.88
2004 105,266,037.39
2005 113,875,924.15
2006 124,804,863.82
2007 135,732,995.2
2008 149,909,144.41
2009 159,279,924.63
2010 172,924,554.75
2011 184,116,008.21
2012 200,486,836.42
2013 215,509,480.86
2014 234,591,932.87
2015 252,587,123.61
2016 272,226,025.06
2017 302,563,759.3
2018 351,979,904.17
2019 405,399,302.35
2020 455,178,162.33
2021 544,377,031.75
2022-08 984,477,763.49
Today 1,047,215,170.65

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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