Baku 7° C
Turkish lira plunges 17%
Finance
- 22 March, 2021
- 09:35
The Turkish lira fell 17% in Asian trade markets after President Tayyip Erdoğan decided to replace the Central Bank head, Report mentions, referring to Reuters.
The US dollar exchange rate against the Turkish currency rose from 7.22 lira to 8.34 lira on Friday and will almost renew the historical minimum shown in November last year.
On March 18, the Central Bank of Turkey raised the discount rate from 17% to 19%. After that, Erdoğan fired the head of the regulator, Naci Ağbal. The new chairman of the Central Bank was Şahap Kavcıoğlu, who had previously spoken out against the interest rate hike. Thus, he became the fourth person to be appointed head of the Central Bank in 20 months.
Author
Latest News
23:11
Video
Vučić calls Ilham Aliyev an experienced statesman and national leader
Foreign policy22:59
Photo
President of Azerbaijan Ilham Aliyev and President of Serbia Aleksandar Vučić delivered press statements - UPDATED
Foreign policy22:26
Vučić: 1st meeting of Azerbaijan-Serbia Strategic Partnership Council is a turning point
Foreign policy22:18
President: 'The broader region is developing very rapidly, with a lot of unexpected scenarios'
Foreign policy22:12
Azerbaijan-Serbia cooperation across various sectors discussed in Belgrade
Foreign policy22:07
Ilham Aliyev: 'We not only work closely on the political track, on the international arena, but we also implement important projects'
Foreign policy22:02
Aleksandar Vučić: 'I'm going to visit Azerbaijan relatively soon again'
Foreign policy21:54
Ilham Aliyev: Azerbaijan and Serbia are very friendly countries
Foreign policy21:45