# Value of 2005 Turkish Lira today

₺100 in 2005
₺2,135.85 in 2024

The inflation rate in Turkey between 2005 and today has been 2,035.85%, which translates into a total increase of ₺2,035.85. This means that 100 lira in 2005 are equivalent to 2,135.85 lira in 2024. In other words, the purchasing power of ₺100 in 2005 equals ₺2,135.85 today. The average annual inflation rate between these periods has been 17.48%.

## Inflation timeline in Turkey (2005 - 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 2005-2023 1,167.36%
Cumulative inflation 2005-today 2,035.85%
Avg. Annual inflation 2005-2023 15.15%
CPI 2005 45.08
CPI 2023 571.37
CPI 2024-08 (latest official data) 941.47
CPI today 962.92

## 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 2005 and 2023, use the corresponding CPI values:

Value2023
=Value2005 ×
CPI2023/CPI2005
=₺ 100 ×
571.37/45.08
₺1,267.36

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 962.92:

Valuetoday
=Value2005 ×
CPItoday/CPI2005
=₺ 100 ×
962.92/45.08
₺2,135.85

### 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 18 years between 2005 and 2023 and the average inflation rate was 15.1522%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=₺100 × (1 + 0.151522)18
₺1,267.36

## Turkey inflation - Conversion table

Initial Value Equivalent value
₺1 lira in 2005 ₺12.67 lira in 2023
₺5 lira in 2005 ₺63.37 lira in 2023
₺10 lira in 2005 ₺126.74 lira in 2023
₺50 lira in 2005 ₺633.68 lira in 2023
₺100 lira in 2005 ₺1,267.36 lira in 2023
₺500 lira in 2005 ₺6,336.79 lira in 2023
₺1,000 lira in 2005 ₺12,673.59 lira in 2023
₺5,000 lira in 2005 ₺63,367.93 lira in 2023
₺10,000 lira in 2005 ₺126,735.87 lira in 2023
₺50,000 lira in 2005 ₺633,679.33 lira in 2023
₺100,000 lira in 2005 ₺1,267,358.67 lira in 2023
₺500,000 lira in 2005 ₺6,336,793.33 lira in 2023
₺1,000,000 lira in 2005 ₺12,673,586.67 lira in 2023
 Cumulative inflation From 2005 2,035.85% Avg. annual inflation From 2005 17.48% CPI 2005 45.08 CPI today 962.92

### Value of Lira over time (by year)

Period Value
2005 100
2006 109.6
2007 119.19
2008 131.64
2009 139.87
2010 151.85
2011 161.68
2012 176.06
2013 189.25
2014 206.01
2015 221.81
2016 239.05
2017 265.7
2018 309.09
2019 356
2020 399.71
2021 478.04
2022 823.71
2023 1,267.36
2024-08 2,088.27
Today 2,135.85

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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