Value of 1983 Turkish Lira today

₺100 in 1983
₺31,794,621.5 in 2024

The inflation rate in Turkey between 1983 and today has been 31,794,521.5%, which translates into a total increase of ₺31,794,521.5. This means that 100 lira in 1983 are equivalent to 31,794,621.5 lira in 2024. In other words, the purchasing power of ₺100 in 1983 equals ₺31,794,621.5 today. The average annual inflation rate between these periods has been 36.21%.

Inflation timeline in Turkey (1983 - 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 1983-2023 20,692,841.22%
Cumulative inflation 1983-today 31,794,521.5%
Avg. Annual inflation 1983-2023 35.8%
CPI 1983 0
CPI 2023 571.37
CPI 2024-04 (latest official data) 847.13
CPI today 877.91

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 1983 and 2023, use the corresponding CPI values:

Value2023
=Value1983 ×
CPI2023/CPI1983
=₺ 100 ×
571.37/0.003
₺20,692,941.22

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 877.91:

Valuetoday
=Value1983 ×
CPItoday/CPI1983
=₺ 100 ×
877.91/0.003
₺31,794,621.5

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 40 years between 1983 and 2023 and the average inflation rate was 35.7987%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=₺100 × (1 + 0.357987)40
₺20,692,941.22

Turkey inflation - Conversion table

Initial Value Equivalent value
₺1 lira in 1983 ₺206,929.41 lira in 2023
₺5 lira in 1983 ₺1,034,647.06 lira in 2023
₺10 lira in 1983 ₺2,069,294.12 lira in 2023
₺50 lira in 1983 ₺10,346,470.61 lira in 2023
₺100 lira in 1983 ₺20,692,941.22 lira in 2023
₺500 lira in 1983 ₺103,464,706.12 lira in 2023
₺1,000 lira in 1983 ₺206,929,412.24 lira in 2023
₺5,000 lira in 1983 ₺1,034,647,061.19 lira in 2023
₺10,000 lira in 1983 ₺2,069,294,122.38 lira in 2023
₺50,000 lira in 1983 ₺10,346,470,611.88 lira in 2023
₺100,000 lira in 1983 ₺20,692,941,223.76 lira in 2023
₺500,000 lira in 1983 ₺103,464,706,118.82 lira in 2023
₺1,000,000 lira in 1983 ₺206,929,412,237.65 lira in 2023
Cumulative inflation From 1983 31,794,521.5%
Avg. annual inflation From 1983 36.21%
CPI 1983 0.003
CPI today 877.91

Value of Lira over time (by year)

Period Value
1983 100
1984 148.39
1985 215.11
1986 289.56
1987 402.07
1988 678.74
1989 1,108.2
1990 1,776.48
1991 2,948.58
1992 5,014.83
1993 8,329.32
1994 17,093.03
1995 32,325.19
1996 58,318.57
1997 108,279.69
1998 199,929.09
1999 329,618.09
2000 510,629.25
2001 788,412.36
2002 1,142,914.99
2003 1,389,812.26
2004 1,509,312.07
2005 1,632,761.25
2006 1,789,461.18
2007 1,946,149.52
2008 2,149,408.17
2009 2,283,767.1
2010 2,479,404.8
2011 2,639,868.67
2012 2,874,594.79
2013 3,089,990.55
2014 3,363,596.13
2015 3,621,612.48
2016 3,903,196.47
2017 4,338,181.1
2018 5,046,713.37
2019 5,812,644.57
2020 6,526,377.47
2021 7,805,317.32
2022 13,449,252.7
2023 20,692,941.22
2024-04 30,679,852.72
Today 31,794,621.5

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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