Value of 1974 Turkish Lira today

₺100 in 1974
₺713,518,607.46 in 2024

The inflation rate in Turkey between 1974 and today has been 713,518,507.46%, which translates into a total increase of ₺713,518,507.46. This means that 100 lira in 1974 are equivalent to 713,518,607.46 lira in 2024. In other words, the purchasing power of ₺100 in 1974 equals ₺713,518,607.46 today. The average annual inflation rate between these periods has been 37.11%.

Inflation timeline in Turkey (1974 - 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 1974-2023 445,814,403.29%
Cumulative inflation 1974-today 713,518,507.46%
Avg. Annual inflation 1974-2023 36.68%
CPI 1974 0
CPI 2023 571.37
CPI 2024-06 (latest official data) 890.03
CPI today 914.47

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 1974 and 2023, use the corresponding CPI values:

Value2023
=Value1974 ×
CPI2023/CPI1974
=₺ 100 ×
571.37/0.0001
₺445,814,503.29

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 914.47:

Valuetoday
=Value1974 ×
CPItoday/CPI1974
=₺ 100 ×
914.47/0.0001
₺713,518,607.46

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 49 years between 1974 and 2023 and the average inflation rate was 36.6775%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=₺100 × (1 + 0.366775)49
₺445,814,503.29

Turkey inflation - Conversion table

Initial Value Equivalent value
₺1 lira in 1974 ₺4,458,145.03 lira in 2023
₺5 lira in 1974 ₺22,290,725.16 lira in 2023
₺10 lira in 1974 ₺44,581,450.33 lira in 2023
₺50 lira in 1974 ₺222,907,251.65 lira in 2023
₺100 lira in 1974 ₺445,814,503.29 lira in 2023
₺500 lira in 1974 ₺2,229,072,516.46 lira in 2023
₺1,000 lira in 1974 ₺4,458,145,032.93 lira in 2023
₺5,000 lira in 1974 ₺22,290,725,164.63 lira in 2023
₺10,000 lira in 1974 ₺44,581,450,329.27 lira in 2023
₺50,000 lira in 1974 ₺222,907,251,646.33 lira in 2023
₺100,000 lira in 1974 ₺445,814,503,292.66 lira in 2023
₺500,000 lira in 1974 ₺2,229,072,516,463.28 lira in 2023
₺1,000,000 lira in 1974 ₺4,458,145,032,926.57 lira in 2023
Cumulative inflation From 1974 713,518,507.46%
Avg. annual inflation From 1974 37.11%
CPI 1974 0.0001
CPI today 914.47

Value of Lira over time (by year)

Period Value
1974 100
1975 121.23
1976 142.39
1977 179.39
1978 290.42
1979 474.97
1980 922.68
1981 1,269.74
1982 1,639.72
1983 2,154.43
1984 3,197.01
1985 4,634.43
1986 6,238.42
1987 8,662.41
1988 14,622.98
1989 23,875.31
1990 38,273.04
1991 63,525.05
1992 108,040.95
1993 179,449.3
1994 368,256.92
1995 696,422.86
1996 1,256,431.6
1997 2,332,807.96
1998 4,307,328.11
1999 7,101,384.16
2000 11,001,139.17
2001 16,985,776.04
2002 24,623,279.55
2003 29,942,503.36
2004 32,517,040.67
2005 35,176,664.27
2006 38,552,651.29
2007 41,928,388.63
2008 46,307,449.83
2009 49,202,116.04
2010 53,416,989.17
2011 56,874,067.6
2012 61,931,072.69
2013 66,571,619.18
2014 72,466,254.17
2015 78,025,030.43
2016 84,091,554.57
2017 93,462,984.93
2018 108,727,801.88
2019 125,229,237.54
2020 140,606,098.44
2021 168,159,935.71
2022 289,754,455.23
2023 445,814,503.29
2024-06 694,447,738.83
Today 713,518,607.46

All available years

Today's value of turkish lira by year:

1955 | 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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