Turkish Lira Falls To 10-day Low Vs U.S. Dollar As CB Governor Dismissed
07 Julio 2019 - 10:57PM
RTTF2
The Turkish lira dropped against the U.S. dollar in the Asian
session on Monday, as President Recep Tayyip Erdogan removed its
central bank governor Murat Cetinkaya amid widening rift over
monetary policy.
The Lira fell to a 10-day low of 5.7849 against the greenback,
from Friday's closing value of 5.6228. Next key support for the
Turkish currency is seen around the 6.5 level. The removal of
Cetinkaya was due to his refusal to lower rates to help revive the
economy.
The move sparked worries about central bank independence, which
is vital for a stable economy.
Cetinkaya was replaced by Deputy Governor Murat Uysal.
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