Value of 1966 Turkish Lira today

₺100 in 1966
₺856,739,371.37 in 2022

The inflation rate in Turkey between 1966 and today has been 856,739,271.37%, which translates into a total increase of ₺856,739,271.37. This means that 100 lira in 1966 are equivalent to 856,739,371.37 lira in 2022. In other words, the purchasing power of ₺100 in 1966 equals ₺856,739,371.37 today. The average annual inflation rate between these periods has been 32.98%.

Inflation timeline in Turkey (1966 - 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 1966-2021 446,283,261.94%
Cumulative inflation 1966-today 856,739,271.37%
Avg. Annual inflation 1966-2021 32.1%
CPI 1966 0
CPI 2021 215.52
CPI 2022-08 (latest official data) 389.76
CPI today 413.74

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 2021, use the corresponding CPI values:

Value2021
=Value1966 ×
CPI2021/CPI1966
=₺ 100 ×
215.52/0.00005
₺446,283,361.94

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 413.74:

Valuetoday
=Value1966 ×
CPItoday/CPI1966
=₺ 100 ×
413.74/0.00005
₺856,739,371.37

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 55 years between 1966 and 2021 and the average inflation rate was 32.0998%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=₺100 × (1 + 0.320998)55
₺446,283,361.94

Turkey inflation - Conversion table

Initial Value Equivalent value
₺1 lira in 1966 ₺4,462,833.62 lira in 2021
₺5 lira in 1966 ₺22,314,168.1 lira in 2021
₺10 lira in 1966 ₺44,628,336.19 lira in 2021
₺50 lira in 1966 ₺223,141,680.97 lira in 2021
₺100 lira in 1966 ₺446,283,361.94 lira in 2021
₺500 lira in 1966 ₺2,231,416,809.72 lira in 2021
₺1,000 lira in 1966 ₺4,462,833,619.44 lira in 2021
₺5,000 lira in 1966 ₺22,314,168,097.19 lira in 2021
₺10,000 lira in 1966 ₺44,628,336,194.38 lira in 2021
₺50,000 lira in 1966 ₺223,141,680,971.92 lira in 2021
₺100,000 lira in 1966 ₺446,283,361,943.83 lira in 2021
₺500,000 lira in 1966 ₺2,231,416,809,719.15 lira in 2021
₺1,000,000 lira in 1966 ₺4,462,833,619,438.3 lira in 2021
Cumulative inflation From 1966 856,739,271.37%
Avg. annual inflation From 1966 32.98%
CPI 1966 0.00005
CPI today 413.74

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
2022-08 807,080,424.83
Today 856,739,371.37

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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