Value of 1978 Turkish Lira today

₺100 in 1978
₺96,143,320.09 in 2022

The inflation rate in Turkey between 1978 and today has been 96,143,220.09%, which translates into a total increase of ₺96,143,220.09. This means that 100 lira in 1978 are equivalent to 96,143,320.09 lira in 2022. In other words, the purchasing power of ₺100 in 1978 equals ₺96,143,320.09 today. The average annual inflation rate between these periods has been 36.77%.

Inflation timeline in Turkey (1978 - 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 1978-2021 57,901,259.97%
Cumulative inflation 1978-today 96,143,220.09%
Avg. Annual inflation 1978-2021 36.15%
CPI 1978 0
CPI 2021 215.52
CPI 2022-04 (latest official data) 347.21
CPI today 357.86

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 1978 and 2021, use the corresponding CPI values:

Value2021
=Value1978 ×
CPI2021/CPI1978
=₺ 100 ×
215.52/0.0004
₺57,901,359.97

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 357.86:

Valuetoday
=Value1978 ×
CPItoday/CPI1978
=₺ 100 ×
357.86/0.0004
₺96,143,320.09

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 43 years between 1978 and 2021 and the average inflation rate was 36.1495%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=₺100 × (1 + 0.361495)43
₺57,901,359.97

Turkey inflation - Conversion table

Initial Value Equivalent value
₺1 lira in 1978 ₺579,013.6 lira in 2021
₺5 lira in 1978 ₺2,895,068 lira in 2021
₺10 lira in 1978 ₺5,790,136 lira in 2021
₺50 lira in 1978 ₺28,950,679.99 lira in 2021
₺100 lira in 1978 ₺57,901,359.97 lira in 2021
₺500 lira in 1978 ₺289,506,799.87 lira in 2021
₺1,000 lira in 1978 ₺579,013,599.75 lira in 2021
₺5,000 lira in 1978 ₺2,895,067,998.75 lira in 2021
₺10,000 lira in 1978 ₺5,790,135,997.49 lira in 2021
₺50,000 lira in 1978 ₺28,950,679,987.46 lira in 2021
₺100,000 lira in 1978 ₺57,901,359,974.92 lira in 2021
₺500,000 lira in 1978 ₺289,506,799,874.59 lira in 2021
₺1,000,000 lira in 1978 ₺579,013,599,749.18 lira in 2021
Cumulative inflation From 1978 96,143,220.09%
Avg. annual inflation From 1978 36.77%
CPI 1978 0.0004
CPI today 357.86

Value of Lira over time (by year)

Period Value
1978 100
1979 163.54
1980 317.7
1981 437.2
1982 564.59
1983 741.82
1984 1,100.8
1985 1,595.74
1986 2,148.03
1987 2,982.67
1988 5,035.03
1989 8,220.82
1990 13,178.29
1991 21,873.14
1992 37,201
1993 61,788.55
1994 126,799.39
1995 239,794.52
1996 432,618.5
1997 803,239.8
1998 1,483,112.81
1999 2,445,171.02
2000 3,787,946.97
2001 5,848,596.03
2002 8,478,365.35
2003 10,309,897.29
2004 11,196,370.1
2005 12,112,140.1
2006 13,274,570.61
2007 14,436,915.15
2008 15,944,727.33
2009 16,941,427.93
2010 18,392,706.36
2011 19,583,058.52
2012 21,324,302.48
2013 22,922,150.09
2014 24,951,809.43
2015 26,865,824.82
2016 28,954,669.56
2017 32,181,470.05
2018 37,437,500.02
2019 43,119,326.44
2020 48,413,935.73
2021 57,901,359.97
2022-04 93,282,146.77
Today 96,143,320.09

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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