Value of 2008 Turkish Lira today

₺100 in 2008
₺678.36 in 2022

The inflation rate in Turkey between 2008 and today has been 578.36%, which translates into a total increase of ₺578.36. This means that 100 lira in 2008 are equivalent to 678.36 lira in 2022. In other words, the purchasing power of ₺100 in 2008 equals ₺678.36 today. The average annual inflation rate between these periods has been 14.65%.

Inflation timeline in Turkey (2008 - 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 2008-2021 263.14%
Cumulative inflation 2008-today 578.36%
Avg. Annual inflation 2008-2021 10.43%
CPI 2008 59.35
CPI 2021 215.52
CPI 2022-08 (latest official data) 389.76
CPI today 402.6

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 2008 and 2021, use the corresponding CPI values:

Value2021
=Value2008 ×
CPI2021/CPI2008
=₺ 100 ×
215.52/59.35
₺363.14

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 402.6:

Valuetoday
=Value2008 ×
CPItoday/CPI2008
=₺ 100 ×
402.6/59.35
₺678.36

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 13 years between 2008 and 2021 and the average inflation rate was 10.4288%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=₺100 × (1 + 0.104288)13
₺363.14

Turkey inflation - Conversion table

Initial Value Equivalent value
₺1 lira in 2008 ₺3.63 lira in 2021
₺5 lira in 2008 ₺18.16 lira in 2021
₺10 lira in 2008 ₺36.31 lira in 2021
₺50 lira in 2008 ₺181.57 lira in 2021
₺100 lira in 2008 ₺363.14 lira in 2021
₺500 lira in 2008 ₺1,815.69 lira in 2021
₺1,000 lira in 2008 ₺3,631.38 lira in 2021
₺5,000 lira in 2008 ₺18,156.9 lira in 2021
₺10,000 lira in 2008 ₺36,313.8 lira in 2021
₺50,000 lira in 2008 ₺181,568.99 lira in 2021
₺100,000 lira in 2008 ₺363,137.98 lira in 2021
₺500,000 lira in 2008 ₺1,815,689.88 lira in 2021
₺1,000,000 lira in 2008 ₺3,631,379.75 lira in 2021
Cumulative inflation From 2008 578.36%
Avg. annual inflation From 2008 14.65%
CPI 2008 59.35
CPI today 402.6

Value of Lira over time (by year)

Period Value
2008 100
2009 106.25
2010 115.35
2011 122.82
2012 133.74
2013 143.76
2014 156.49
2015 168.49
2016 181.59
2017 201.83
2018 234.8
2019 270.43
2020 303.64
2021 363.14
2022-08 656.72
Today 678.36

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 |

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