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Turkish lira plunges 17% after central bank boss sacked

  • It later recovered slightly to sit at 8.09.
Published March 22, 2021 Updated March 22, 2021 10:35am
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By AFP
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HONG KONG: The Turkish lira collapsed more than 17 percent Monday after President Recep Tayyip Erdogan sacked the country's market-friendly central bank chief.

The currency fell to as low as 8.47 per US dollar in early trade Monday, having closed at 7.22 at the end of last week, after Naci Agbal was replaced by former ruling party lawmaker Sahap Kavcioglu.

It later recovered slightly to sit at 8.09.

Recep Tayyip Erdogan Turkish lira President Naci Agbal

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