Value of 1988 Turkish Lira today

₺100 in 1988

₺1,066,492.42 today

The inflation rate in Turkey between 1988 and today has been 1,066,392.42%, which translates into a total increase of ₺1,066,392.42. This means that 100 lira in 1988 are equivalent to 1,066,492.42 lira in 2018. In other words, the purchasing power of ₺100 in 1988 equals ₺1,066,492.42 today. The average annual inflation rate has been 34.88%.

Inflation timeline in Turkey (1988-2019)

The following chart ilustrates the equivalence of ₺100 throughout the years due to inflation and CPI changes. All values are equivalent in terms of purchashing 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 obtained by estimating figures from recent trends.

The following table contains relevant indicators:

Indicator Value
Total Inflation (1988-2018) 886,361.38%
Total Inflation* 1,066,392.42%
Annual inflation avg. (1988-2018) 35.39%
Annual inflation avg.* 34.88%
CPI 1988 0.01
CPI 2018 125.64
CPI today* 151.16
₺1 in 1988 ₺8,864.61 in 2018

* Values extrapolated from the last official data to obtain today's values.

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 compound interest formula or the Consumer Price Index (CPI) formula.

Using the compound interest formula

Given that money changes in time as a result of an inflation rate that acts as a compound interest, the following formula can be used: 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 30 years between 1988 and 2018 and the average inflation rate has been 34.8758%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = ₺100 * (1 + 0.35)30 = ₺886,461.38

Using the CPI formula

When the CPI for both start and end years is known, the following formula can be used:

Final value = Initial value *
CPI final/CPI initial

In this case, the CPI in 1988 was 0.01 and the CPI today is 151.16. Therefore,

Final value = Initial value *
CPI final/CPI initial
= ₺100 *
125.64/0.01
= ₺886,461.38

Turkey inflation - Conversion table

Initial Value Equivalent value
₺1 lira in 1988 ₺10,664.92 lira today
₺5 lira in 1988 ₺53,324.62 lira today
₺10 lira in 1988 ₺106,649.24 lira today
₺50 lira in 1988 ₺533,246.21 lira today
₺100 lira in 1988 ₺1,066,492.42 lira today
₺500 lira in 1988 ₺5,332,462.11 lira today
₺1,000 lira in 1988 ₺10,664,924.21 lira today
₺5,000 lira in 1988 ₺53,324,621.06 lira today
₺10,000 lira in 1988 ₺106,649,242.12 lira today
₺50,000 lira in 1988 ₺533,246,210.62 lira today
₺100,000 lira in 1988 ₺1,066,492,421.24 lira today
₺500,000 lira in 1988 ₺5,332,462,106.18 lira today
₺1,000,000 lira in 1988 ₺10,664,924,212.35 lira today

Value of Lira in time (by year)

Period Value
1988 100
1989 161.57
1990 265.42
1991 425.76
1992 728.64
1993 1,209.3
1994 2,068.83
1995 4,557.86
1996 8,023.97
1997 14,423.72
1998 28,716.83
1999 48,739.91
2000 82,269.11
2001 114,381.73
2002 192,769.49
2003 250,116.06
2004 281,904.56
2005 308,275.62
2006 332,074.52
2007 364,131.26
2008 394,671.81
2009 434,390.79
2010 462,738.26
2011 492,358.3
2012 543,800.76
2013 577,319.51
2014 620,043.84
2015 670,701.12
2016 729,778.72
2017 792,051.18
2018 886,461.38
Today 1,066,492.42