Value of 1994 Turkish Lira today

₺100 in 1994
₺96,598.83 in 2023

The inflation rate in Turkey between 1994 and today has been 96,498.83%, which translates into a total increase of ₺96,498.83. This means that 100 lira in 1994 are equivalent to 96,598.83 lira in 2023. In other words, the purchasing power of ₺100 in 1994 equals ₺96,598.83 today. The average annual inflation rate between these periods has been 26.74%.

Inflation timeline in Turkey (1994 - 2023)

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 1994-2022 78,582.69%
Cumulative inflation 1994-today 96,498.83%
Avg. Annual inflation 1994-2022 26.89%
CPI 1994 0.47
CPI 2022 371.36
CPI 2022-12 (latest official data) 433.04
CPI today 455.92

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 1994 and 2022, use the corresponding CPI values:

Value2022
=Value1994 ×
CPI2022/CPI1994
=₺ 100 ×
371.36/0.47
₺78,682.69

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 455.92:

Valuetoday
=Value1994 ×
CPItoday/CPI1994
=₺ 100 ×
455.92/0.47
₺96,598.83

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 28 years between 1994 and 2022 and the average inflation rate was 26.8891%. Therefore, we can resolve the formula like this:

Value2022
=PV × (1 + i)n
=₺100 × (1 + 0.268891)28
₺78,682.69

Turkey inflation - Conversion table

Initial Value Equivalent value
₺1 lira in 1994 ₺786.83 lira in 2022
₺5 lira in 1994 ₺3,934.13 lira in 2022
₺10 lira in 1994 ₺7,868.27 lira in 2022
₺50 lira in 1994 ₺39,341.35 lira in 2022
₺100 lira in 1994 ₺78,682.69 lira in 2022
₺500 lira in 1994 ₺393,413.46 lira in 2022
₺1,000 lira in 1994 ₺786,826.91 lira in 2022
₺5,000 lira in 1994 ₺3,934,134.55 lira in 2022
₺10,000 lira in 1994 ₺7,868,269.1 lira in 2022
₺50,000 lira in 1994 ₺39,341,345.52 lira in 2022
₺100,000 lira in 1994 ₺78,682,691.04 lira in 2022
₺500,000 lira in 1994 ₺393,413,455.18 lira in 2022
₺1,000,000 lira in 1994 ₺786,826,910.36 lira in 2022
Cumulative inflation From 1994 96,498.83%
Avg. annual inflation From 1994 26.74%
CPI 1994 0.47
CPI today 455.92

Value of Lira over time (by year)

Period Value
1994 100
1995 189.11
1996 341.18
1997 633.47
1998 1,169.65
1999 1,928.38
2000 2,987.35
2001 4,612.48
2002 6,686.44
2003 8,130.87
2004 8,829.99
2005 9,552.21
2006 10,468.95
2007 11,385.63
2008 12,574.77
2009 13,360.81
2010 14,505.36
2011 15,444.13
2012 16,817.35
2013 18,077.49
2014 19,678.18
2015 21,187.66
2016 22,835.02
2017 25,379.83
2018 29,524.99
2019 34,005.94
2020 38,181.52
2021 45,663.75
2022 78,682.69
2022-12 91,752.09
Today 96,598.83

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 | 2022 |

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