Turkish lira plummets after Erdogan sacks central bank chief
Turkey’s lira fell 10 percent after markets opened following President Tayyip Erdogan’s decision to fire a central bank governor.
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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)
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