Value of 1968 Turkish Lira today

₺100 in 1968
₺713,235,772.82 in 2022

The inflation rate in Turkey between 1968 and today has been 713,235,672.82%, which translates into a total increase of ₺713,235,672.82. This means that 100 lira in 1968 are equivalent to 713,235,772.82 lira in 2022. In other words, the purchasing power of ₺100 in 1968 equals ₺713,235,772.82 today. The average annual inflation rate between these periods has been 33.94%.

Inflation timeline in Turkey (1968 - 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 1968-2021 369,237,851.65%
Cumulative inflation 1968-today 713,235,672.82%
Avg. Annual inflation 1968-2021 33.02%
CPI 1968 0
CPI 2021 215.52
CPI 2022-08 (latest official data) 389.76
CPI today 416.31

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 1968 and 2021, use the corresponding CPI values:

Value2021
=Value1968 ×
CPI2021/CPI1968
=₺ 100 ×
215.52/0.0001
₺369,237,951.65

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 416.31:

Valuetoday
=Value1968 ×
CPItoday/CPI1968
=₺ 100 ×
416.31/0.0001
₺713,235,772.82

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 53 years between 1968 and 2021 and the average inflation rate was 33.0183%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=₺100 × (1 + 0.330183)53
₺369,237,951.65

Turkey inflation - Conversion table

Initial Value Equivalent value
₺1 lira in 1968 ₺3,692,379.52 lira in 2021
₺5 lira in 1968 ₺18,461,897.58 lira in 2021
₺10 lira in 1968 ₺36,923,795.17 lira in 2021
₺50 lira in 1968 ₺184,618,975.83 lira in 2021
₺100 lira in 1968 ₺369,237,951.65 lira in 2021
₺500 lira in 1968 ₺1,846,189,758.26 lira in 2021
₺1,000 lira in 1968 ₺3,692,379,516.52 lira in 2021
₺5,000 lira in 1968 ₺18,461,897,582.62 lira in 2021
₺10,000 lira in 1968 ₺36,923,795,165.24 lira in 2021
₺50,000 lira in 1968 ₺184,618,975,826.21 lira in 2021
₺100,000 lira in 1968 ₺369,237,951,652.42 lira in 2021
₺500,000 lira in 1968 ₺1,846,189,758,262.09 lira in 2021
₺1,000,000 lira in 1968 ₺3,692,379,516,524.18 lira in 2021
Cumulative inflation From 1968 713,235,672.82%
Avg. annual inflation From 1968 33.94%
CPI 1968 0.0001
CPI today 416.31

Value of Lira over time (by year)

Period Value
1968 100
1969 104.92
1970 113.24
1971 134.77
1972 155.54
1973 177.22
1974 219.58
1975 266.19
1976 312.65
1977 393.89
1978 637.7
1979 1,042.92
1980 2,025.98
1981 2,788.05
1982 3,600.41
1983 4,730.6
1984 7,019.84
1985 10,176.08
1986 13,698.03
1987 19,020.52
1988 32,108.47
1989 52,424.32
1990 84,038.21
1991 139,485.41
1992 237,231.41
1993 394,026.62
1994 808,601.83
1995 1,529,173.71
1996 2,758,815.47
1997 5,122,273.81
1998 9,457,835.49
1999 15,592,896.91
2000 24,155,801.88
2001 37,296,595.8
2002 54,066,679.23
2003 65,746,389.35
2004 71,399,441.48
2005 77,239,322.24
2006 84,652,161.25
2007 92,064,452.02
2008 101,679,795.78
2009 108,035,772.41
2010 117,290,599.46
2011 124,881,495.31
2012 135,985,437.48
2013 146,174,938.75
2014 159,118,110.64
2015 171,323,819.15
2016 184,644,417.41
2017 205,221,778.68
2018 238,739,570.66
2019 274,972,673.85
2020 308,736,486.83
2021 369,237,951.65
2022-08 667,747,777.07
Today 713,235,772.82

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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