Fired Central Bank Governor Naci Agbal had raised interest rates to contain inflation; economists fear the new governor may reverse the hikes despite comments to bank CEOs.

The currency was down more than 10% at 7.81 versus the dollar, from 7.2185 on Friday.

Naci Agbal was the third central bank governor fired by President Recep Tayyip Erdogan in less than two years. (ILKHA)