Value of 2002 Turkish Lira today

₺100 in 2002
₺1,136.09 in 2022

The inflation rate in Turkey between 2002 and today has been 1,036.09%, which translates into a total increase of ₺1,036.09. This means that 100 lira in 2002 are equivalent to 1,136.09 lira in 2022. In other words, the purchasing power of ₺100 in 2002 equals ₺1,136.09 today. The average annual inflation rate between these periods has been 12.92%.

Inflation timeline in Turkey (2002 - 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 2002-2021 582.93%
Cumulative inflation 2002-today 1,036.09%
Avg. Annual inflation 2002-2021 10.64%
CPI 2002 31.56
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 2002 and 2021, use the corresponding CPI values:

Value2021
=Value2002 ×
CPI2021/CPI2002
=₺ 100 ×
215.52/31.56
₺682.93

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

Valuetoday
=Value2002 ×
CPItoday/CPI2002
=₺ 100 ×
358.53/31.56
₺1,136.09

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 19 years between 2002 and 2021 and the average inflation rate was 10.6406%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=₺100 × (1 + 0.106406)19
₺682.93

Turkey inflation - Conversion table

Initial Value Equivalent value
₺1 lira in 2002 ₺6.83 lira in 2021
₺5 lira in 2002 ₺34.15 lira in 2021
₺10 lira in 2002 ₺68.29 lira in 2021
₺50 lira in 2002 ₺341.47 lira in 2021
₺100 lira in 2002 ₺682.93 lira in 2021
₺500 lira in 2002 ₺3,414.65 lira in 2021
₺1,000 lira in 2002 ₺6,829.31 lira in 2021
₺5,000 lira in 2002 ₺34,146.54 lira in 2021
₺10,000 lira in 2002 ₺68,293.07 lira in 2021
₺50,000 lira in 2002 ₺341,465.35 lira in 2021
₺100,000 lira in 2002 ₺682,930.7 lira in 2021
₺500,000 lira in 2002 ₺3,414,653.51 lira in 2021
₺1,000,000 lira in 2002 ₺6,829,307.01 lira in 2021
Cumulative inflation From 2002 1,036.09%
Avg. annual inflation From 2002 12.92%
CPI 2002 31.56
CPI today 358.53

Value of Lira over time (by year)

Period Value
2002 100
2003 121.6
2004 132.06
2005 142.86
2006 156.57
2007 170.28
2008 188.06
2009 199.82
2010 216.94
2011 230.98
2012 251.51
2013 270.36
2014 294.3
2015 316.88
2016 341.51
2017 379.57
2018 441.57
2019 508.58
2020 571.03
2021 682.93
2022-04 1,100.24
Today 1,136.09

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: