Value of 1993 Turkish Lira today

₺100 in 1993
₺388,763.11 in 2024

The inflation rate in Turkey between 1993 and today has been 388,663.11%, which translates into a total increase of ₺388,663.11. This means that 100 lira in 1993 are equivalent to 388,763.11 lira in 2024. In other words, the purchasing power of ₺100 in 1993 equals ₺388,763.11 today. The average annual inflation rate between these periods has been 30.56%.

Inflation timeline in Turkey (1993 - 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 1993-2023 248,334.8%
Cumulative inflation 1993-today 388,663.11%
Avg. Annual inflation 1993-2023 29.77%
CPI 1993 0.23
CPI 2023 571.37
CPI 2024-04 (latest official data) 847.13
CPI today 894.11

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 1993 and 2023, use the corresponding CPI values:

Value2023
=Value1993 ×
CPI2023/CPI1993
=₺ 100 ×
571.37/0.23
₺248,434.8

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 894.11:

Valuetoday
=Value1993 ×
CPItoday/CPI1993
=₺ 100 ×
894.11/0.23
₺388,763.11

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 30 years between 1993 and 2023 and the average inflation rate was 29.7698%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=₺100 × (1 + 0.297698)30
₺248,434.8

Turkey inflation - Conversion table

Initial Value Equivalent value
₺1 lira in 1993 ₺2,484.35 lira in 2023
₺5 lira in 1993 ₺12,421.74 lira in 2023
₺10 lira in 1993 ₺24,843.48 lira in 2023
₺50 lira in 1993 ₺124,217.4 lira in 2023
₺100 lira in 1993 ₺248,434.8 lira in 2023
₺500 lira in 1993 ₺1,242,173.99 lira in 2023
₺1,000 lira in 1993 ₺2,484,347.97 lira in 2023
₺5,000 lira in 1993 ₺12,421,739.87 lira in 2023
₺10,000 lira in 1993 ₺24,843,479.74 lira in 2023
₺50,000 lira in 1993 ₺124,217,398.71 lira in 2023
₺100,000 lira in 1993 ₺248,434,797.43 lira in 2023
₺500,000 lira in 1993 ₺1,242,173,987.15 lira in 2023
₺1,000,000 lira in 1993 ₺2,484,347,974.3 lira in 2023
Cumulative inflation From 1993 388,663.11%
Avg. annual inflation From 1993 30.56%
CPI 1993 0.23
CPI today 894.11

Value of Lira over time (by year)

Period Value
1993 100
1994 205.22
1995 388.09
1996 700.16
1997 1,299.98
1998 2,400.3
1999 3,957.32
2000 6,130.5
2001 9,465.5
2002 13,721.58
2003 16,685.77
2004 18,120.46
2005 19,602.56
2006 21,483.87
2007 23,365.03
2008 25,805.31
2009 27,418.39
2010 29,767.18
2011 31,693.67
2012 34,511.74
2013 37,097.73
2014 40,382.58
2015 43,480.26
2016 46,860.9
2017 52,083.23
2018 60,589.71
2019 69,785.3
2020 78,354.22
2021 93,708.88
2022 161,468.7
2023 248,434.8
2024-04 368,335.41
Today 388,763.11

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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