Value of 1988 Turkish Lira today

₺100 in 1988
₺1,927,246.83 in 2022

The inflation rate in Turkey between 1988 and today has been 1,927,146.83%, which translates into a total increase of ₺1,927,146.83. This means that 100 lira in 1988 are equivalent to 1,927,246.83 lira in 2022. In other words, the purchasing power of ₺100 in 1988 equals ₺1,927,246.83 today. The average annual inflation rate between these periods has been 33.67%.

Inflation timeline in Turkey (1988 - 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 1988-2021 1,149,870.73%
Cumulative inflation 1988-today 1,927,146.83%
Avg. Annual inflation 1988-2021 32.76%
CPI 1988 0.02
CPI 2021 215.52
CPI 2022-04 (latest official data) 347.21
CPI today 361.19

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 1988 and 2021, use the corresponding CPI values:

Value2021
=Value1988 ×
CPI2021/CPI1988
=₺ 100 ×
215.52/0.02
₺1,149,970.73

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 361.19:

Valuetoday
=Value1988 ×
CPItoday/CPI1988
=₺ 100 ×
361.19/0.02
₺1,927,246.83

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 33 years between 1988 and 2021 and the average inflation rate was 32.7551%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=₺100 × (1 + 0.327551)33
₺1,149,970.73

Turkey inflation - Conversion table

Initial Value Equivalent value
₺1 lira in 1988 ₺11,499.71 lira in 2021
₺5 lira in 1988 ₺57,498.54 lira in 2021
₺10 lira in 1988 ₺114,997.07 lira in 2021
₺50 lira in 1988 ₺574,985.37 lira in 2021
₺100 lira in 1988 ₺1,149,970.73 lira in 2021
₺500 lira in 1988 ₺5,749,853.67 lira in 2021
₺1,000 lira in 1988 ₺11,499,707.33 lira in 2021
₺5,000 lira in 1988 ₺57,498,536.66 lira in 2021
₺10,000 lira in 1988 ₺114,997,073.32 lira in 2021
₺50,000 lira in 1988 ₺574,985,366.61 lira in 2021
₺100,000 lira in 1988 ₺1,149,970,733.23 lira in 2021
₺500,000 lira in 1988 ₺5,749,853,666.14 lira in 2021
₺1,000,000 lira in 1988 ₺11,499,707,332.27 lira in 2021
Cumulative inflation From 1988 1,927,146.83%
Avg. annual inflation From 1988 33.67%
CPI 1988 0.02
CPI today 361.19

Value of Lira over time (by year)

Period Value
1988 100
1989 163.27
1990 261.73
1991 434.42
1992 738.84
1993 1,227.17
1994 2,518.34
1995 4,762.53
1996 8,592.17
1997 15,953.03
1998 29,455.89
1999 48,563.2
2000 75,231.88
2001 116,158.14
2002 168,387.62
2003 204,763.41
2004 222,369.53
2005 240,557.5
2006 263,644.37
2007 286,729.53
2008 316,675.98
2009 336,471.31
2010 365,294.94
2011 388,936.36
2012 423,518.96
2013 455,253.59
2014 495,564.36
2015 533,578.35
2016 575,064.6
2017 639,151.63
2018 743,540.9
2019 856,386.85
2020 961,542.34
2021 1,149,970.73
2022-04 1,852,663.54
Today 1,927,246.83

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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