Turkish lira devaluation calculator
Enter an amount in lira and a year to see what it is worth today, and what it would be worth if you had converted it to dollars back then.
Your money in dollars by year
Table
How it is calculated
The amount is converted to dollars at the average rate for the chosen year and compared with the same amount kept in the national currency. Today’s value uses the current rate.
In national currency = amount × (1 + rate)years
How the Turkish lira has changed
In 2005 a dollar cost about 1.34 lira, in 2015 about 2.7, in 2020 about 7, and in 2025 about 39.5. Over 20 years the lira lost almost 30 times its value against the dollar, falling hardest during the 2018 currency crisis and in 2021–2023 amid high inflation.
For people living in Turkey this is an everyday question: rent, salary and spending are in lira, while savings are better kept where they don’t lose value. High lira deposit rates partly offset the fall — check it in the calculator.
- The rate is the Central Bank of Turkey (TCMB) annual average dollar rate, the average of buying rates on business days; for 2026, the year-to-date average. In 2005 six zeros were removed from the lira; rates for 2000–2004 are converted to new lira.
- The calculation ignores taxes, fees and dollar inflation.
- The past does not guarantee the future: a currency can also strengthen.
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FAQ
How much has the Turkish lira fallen?
In 2005 a dollar cost about 1.34 lira, in 2015 about 2.7, in 2020 about 7, and in 2025 about 39.5. Over 20 years the lira lost almost 30 times its value against the dollar. The calculator shows what that means for your savings.
Why is the Turkish lira falling?
The main reasons are high inflation, a long period of low interest rates despite high inflation, and a trade deficit. When deposit rates are below inflation, money in lira loses purchasing power and demand for dollars and euros grows.
Should I keep money in lira if I live in Turkey?
It makes sense to keep the next few months of spending in lira, especially in a high-rate deposit. Spread long-term savings across currencies so a fall in the lira doesn’t hit all your capital at once.
Where does the exchange rate data come from?
We use the Central Bank of Turkey (TCMB) annual average dollar rate. The current rate is loaded automatically; if it is unavailable, the year-to-date average is used.