Value of 2017 Turkish Lira today

₺100 in 2017
₺709.85 in 2024

The inflation rate in Turkey between 2017 and today has been 609.85%, which translates into a total increase of ₺609.85. This means that 100 lira in 2017 are equivalent to 709.85 lira in 2024. In other words, the purchasing power of ₺100 in 2017 equals ₺709.85 today. The average annual inflation rate between these periods has been 32.31%.

Inflation timeline in Turkey (2017 - 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 2017-2023 377%
Cumulative inflation 2017-today 609.85%
Avg. Annual inflation 2017-2023 29.74%
CPI 2017 119.79
CPI 2023 571.37
CPI 2024-03 (latest official data) 821.03
CPI today 850.3

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 2017 and 2023, use the corresponding CPI values:

Value2023
=Value2017 ×
CPI2023/CPI2017
=₺ 100 ×
571.37/119.79
₺477

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 850.3:

Valuetoday
=Value2017 ×
CPItoday/CPI2017
=₺ 100 ×
850.3/119.79
₺709.85

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 6 years between 2017 and 2023 and the average inflation rate was 29.7435%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=₺100 × (1 + 0.297435)6
₺477

Turkey inflation - Conversion table

Initial Value Equivalent value
₺1 lira in 2017 ₺4.77 lira in 2023
₺5 lira in 2017 ₺23.85 lira in 2023
₺10 lira in 2017 ₺47.7 lira in 2023
₺50 lira in 2017 ₺238.5 lira in 2023
₺100 lira in 2017 ₺477 lira in 2023
₺500 lira in 2017 ₺2,384.98 lira in 2023
₺1,000 lira in 2017 ₺4,769.96 lira in 2023
₺5,000 lira in 2017 ₺23,849.79 lira in 2023
₺10,000 lira in 2017 ₺47,699.58 lira in 2023
₺50,000 lira in 2017 ₺238,497.89 lira in 2023
₺100,000 lira in 2017 ₺476,995.79 lira in 2023
₺500,000 lira in 2017 ₺2,384,978.95 lira in 2023
₺1,000,000 lira in 2017 ₺4,769,957.9 lira in 2023
Cumulative inflation From 2017 609.85%
Avg. annual inflation From 2017 32.31%
CPI 2017 119.79
CPI today 850.3

Value of Lira over time (by year)

Period Value
2017 100
2018 116.33
2019 133.99
2020 150.44
2021 179.92
2022 310.02
2023 477
2024-03 685.41
Today 709.85

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 | 2023 |

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