Value of 1966 Turkish Lira today

₺100 in 1966
₺1,702,504,526.3 in 2024

The inflation rate in Turkey between 1966 and today has been 1,702,504,426.3%, which translates into a total increase of ₺1,702,504,426.3. This means that 100 lira in 1966 are equivalent to 1,702,504,526.3 lira in 2024. In other words, the purchasing power of ₺100 in 1966 equals ₺1,702,504,526.3 today. The average annual inflation rate between these periods has been 33.25%.

Inflation timeline in Turkey (1966 - 2024)

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 1966-2023 1,183,156,842.2%
Cumulative inflation 1966-today 1,702,504,426.3%
Avg. Annual inflation 1966-2023 33.07%
CPI 1966 0
CPI 2023 571.37
CPI 2024-02 (latest official data) 795.86
CPI today 822.18

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 1966 and 2023, use the corresponding CPI values:

Value2023
=Value1966 ×
CPI2023/CPI1966
=₺ 100 ×
571.37/0.00005
₺1,183,156,942.2

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 822.18:

Valuetoday
=Value1966 ×
CPItoday/CPI1966
=₺ 100 ×
822.18/0.00005
₺1,702,504,526.3

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 57 years between 1966 and 2023 and the average inflation rate was 33.0725%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=₺100 × (1 + 0.330725)57
₺1,183,156,942.2

Turkey inflation - Conversion table

Initial Value Equivalent value
₺1 lira in 1966 ₺11,831,569.42 lira in 2023
₺5 lira in 1966 ₺59,157,847.11 lira in 2023
₺10 lira in 1966 ₺118,315,694.22 lira in 2023
₺50 lira in 1966 ₺591,578,471.1 lira in 2023
₺100 lira in 1966 ₺1,183,156,942.2 lira in 2023
₺500 lira in 1966 ₺5,915,784,711.02 lira in 2023
₺1,000 lira in 1966 ₺11,831,569,422.04 lira in 2023
₺5,000 lira in 1966 ₺59,157,847,110.2 lira in 2023
₺10,000 lira in 1966 ₺118,315,694,220.4 lira in 2023
₺50,000 lira in 1966 ₺591,578,471,102.02 lira in 2023
₺100,000 lira in 1966 ₺1,183,156,942,204.04 lira in 2023
₺500,000 lira in 1966 ₺5,915,784,711,020.18 lira in 2023
₺1,000,000 lira in 1966 ₺11,831,569,422,040.37 lira in 2023
Cumulative inflation From 1966 1,702,504,426.3%
Avg. annual inflation From 1966 33.25%
CPI 1966 0.00005
CPI today 822.18

Value of Lira over time (by year)

Period Value
1966 100
1967 113.97
1968 120.87
1969 126.82
1970 136.87
1971 162.89
1972 188
1973 214.2
1974 265.39
1975 321.73
1976 377.89
1977 476.08
1978 770.76
1979 1,260.53
1980 2,448.72
1981 3,369.8
1982 4,351.68
1983 5,717.68
1984 8,484.61
1985 12,299.43
1986 16,556.27
1987 22,989.36
1988 38,808.24
1989 63,363.21
1990 101,573.67
1991 168,590.52
1992 286,732.25
1993 476,244.45
1994 977,325.16
1995 1,848,252
1996 3,334,471.54
1997 6,191,090.51
1998 11,431,313.07
1999 18,846,520.05
2000 29,196,165.85
2001 45,078,925.63
2002 65,348,264.63
2003 79,465,070
2004 86,297,691.35
2005 93,356,125.1
2006 102,315,731.49
2007 111,274,675.26
2008 122,896,362.36
2009 130,578,580.85
2010 141,764,525.61
2011 150,939,342.3
2012 164,360,239.62
2013 176,675,888.29
2014 192,319,790.11
2015 207,072,349.01
2016 223,172,431.22
2017 248,043,476.91
2018 288,555,111.27
2019 332,348,635.29
2020 373,157,625.54
2021 446,283,361.94
2022 768,985,738.93
2023 1,183,156,942.2
2024-02 1,647,996,678.56
Today 1,702,504,526.3

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 | 2022 | 2023 |

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