Turkish lira volatile as Erdogan replaces central bank deputy governor
A week after firing central bank governor Erdogan replaces deputy with a former Morgan Stanley executive
30 March 2021 - 18:51
Ankara — The slump in Turkey’s lira extended into a seventh day as President Recep Tayyip Erdogan continued his overhaul of the nation’s central bank.
Just over a week since he fired market-friendly central bank governor Naci Agbal, Erdogan replaced his deputy, Murat Cetinkaya, with former Morgan Stanley executive Mustafa Duman. The lira fell on the news, sinking the most among emerging-market peers and taking its slide since Agbal’s removal to 14%...
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