Value of 1999 Turkish Lira today

₺100 in 1999
₺3,939.28 in 2022

The inflation rate in Turkey between 1999 and today has been 3,839.28%, which translates into a total increase of ₺3,839.28. This means that 100 lira in 1999 are equivalent to 3,939.28 lira in 2022. In other words, the purchasing power of ₺100 in 1999 equals ₺3,939.28 today. The average annual inflation rate between these periods has been 17.32%.

Inflation timeline in Turkey (1999 - 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 1999-2021 2,267.99%
Cumulative inflation 1999-today 3,839.28%
Avg. Annual inflation 1999-2021 15.47%
CPI 1999 9.1
CPI 2021 215.52
CPI 2022-04 (latest official data) 347.21
CPI today 358.53

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 1999 and 2021, use the corresponding CPI values:

Value2021
=Value1999 ×
CPI2021/CPI1999
=₺ 100 ×
215.52/9.1
₺2,367.99

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 358.53:

Valuetoday
=Value1999 ×
CPItoday/CPI1999
=₺ 100 ×
358.53/9.1
₺3,939.28

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 22 years between 1999 and 2021 and the average inflation rate was 15.4707%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=₺100 × (1 + 0.154707)22
₺2,367.99

Turkey inflation - Conversion table

Initial Value Equivalent value
₺1 lira in 1999 ₺23.68 lira in 2021
₺5 lira in 1999 ₺118.4 lira in 2021
₺10 lira in 1999 ₺236.8 lira in 2021
₺50 lira in 1999 ₺1,183.99 lira in 2021
₺100 lira in 1999 ₺2,367.99 lira in 2021
₺500 lira in 1999 ₺11,839.94 lira in 2021
₺1,000 lira in 1999 ₺23,679.88 lira in 2021
₺5,000 lira in 1999 ₺118,399.41 lira in 2021
₺10,000 lira in 1999 ₺236,798.82 lira in 2021
₺50,000 lira in 1999 ₺1,183,994.08 lira in 2021
₺100,000 lira in 1999 ₺2,367,988.15 lira in 2021
₺500,000 lira in 1999 ₺11,839,940.77 lira in 2021
₺1,000,000 lira in 1999 ₺23,679,881.53 lira in 2021
Cumulative inflation From 1999 3,839.28%
Avg. annual inflation From 1999 17.32%
CPI 1999 9.1
CPI today 358.53

Value of Lira over time (by year)

Period Value
1999 100
2000 154.92
2001 239.19
2002 346.74
2003 421.64
2004 457.9
2005 495.35
2006 542.89
2007 590.43
2008 652.09
2009 692.85
2010 752.21
2011 800.89
2012 872.1
2013 937.45
2014 1,020.45
2015 1,098.73
2016 1,184.16
2017 1,316.12
2018 1,531.08
2019 1,763.45
2020 1,979.98
2021 2,367.99
2022-04 3,814.95
Today 3,939.28

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 |

Other currencies: