Value of 1966 Turkish Lira today

₺100 in 1966

₺335,512,244.85 in 2019

The inflation rate in Turkey between 1966 and today has been 335,512,144.85%, which translates into a total increase of ₺335,512,144.85. This means that 100 lira in 1966 are equivalent to 335,512,244.85 lira in 2019. In other words, the purchasing power of ₺100 in 1966 equals ₺335,512,244.85 today. The average annual inflation rate has been 32.08%.

Inflation timeline in Turkey (1966-2019)

The following chart depicts the equivalence of ₺100 throughout the years due to 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 obtained by estimating figures from recent trends.

The following table contains relevant indicators:

Indicator Value
Total Inflation (1966-2019) 331,585,278.43%
Total Inflation* 335,512,144.85%
Annual inflation avg. (1966-2019) 32.75%
Annual inflation avg.* 32.08%
CPI 1966 0
CPI 2019 151.15
CPI today* 152.94
₺1 in 1966 ₺3,315,853.78 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 53 years between 1966 and 2019 and the average inflation rate has been 32.0829%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = ₺100 * (1 + 0.32)53 = ₺331,585,378.43

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 1966 was 0 and the CPI today is 152.94. Therefore,

Final value = Initial value *
CPI final/CPI initial
= ₺100 *
151.15/0
= ₺331,585,378.43

Turkey inflation - Conversion table

Initial Value Equivalent value
₺1 lira in 1966 ₺3,355,122.45 lira today
₺5 lira in 1966 ₺16,775,612.24 lira today
₺10 lira in 1966 ₺33,551,224.49 lira today
₺50 lira in 1966 ₺167,756,122.43 lira today
₺100 lira in 1966 ₺335,512,244.85 lira today
₺500 lira in 1966 ₺1,677,561,224.25 lira today
₺1,000 lira in 1966 ₺3,355,122,448.51 lira today
₺5,000 lira in 1966 ₺16,775,612,242.53 lira today
₺10,000 lira in 1966 ₺33,551,224,485.06 lira today
₺50,000 lira in 1966 ₺167,756,122,425.32 lira today
₺100,000 lira in 1966 ₺335,512,244,850.64 lira today
₺500,000 lira in 1966 ₺1,677,561,224,253.22 lira today
₺1,000,000 lira in 1966 ₺3,355,122,448,506.44 lira today

Value of Lira in time (by year)

Period Value
1966 100
1967 110.99
1968 124.82
1969 131.76
1970 139.58
1971 152.54
1972 188.22
1973 208.91
1974 250.19
1975 311.78
1976 362.47
1977 432.54
1978 634.84
1979 977.46
1980 1,777.41
1981 3,111.75
1982 4,001.63
1983 5,187.8
1984 7,110.33
1985 10,643.02
1986 15,346.53
1987 20,053.41
1988 31,093.06
1989 50,235.61
1990 82,526.55
1991 132,383.37
1992 226,557.38
1993 376,009.49
1994 643,261.88
1995 1,417,176.82
1996 2,494,898.51
1997 4,484,776.69
1998 8,928,941.07
1999 15,154,731.74
2000 25,579,986.27
2001 35,564,783.8
2002 59,937,939.7
2003 77,768,746.97
2004 87,652,765.07
2005 95,852,336.42
2006 103,252,143.81
2007 113,219,567.09
2008 122,715,560.26
2009 135,065,405.72
2010 143,879,503.43
2011 153,089,282.15
2012 169,084,319.96
2013 179,506,325.59
2014 192,790,629.31
2015 208,541,528.19
2016 226,910,564.29
2017 246,272,981.94
2018 275,628,006.77
2019 331,585,378.43
Today 335,512,244.85