Turkish lira plummets after Erdogan fires central bank chief | THE DAILY STAR

The Turkish currency plummeted against the U.S. dollar Monday after President Recep Tayyip Erdogan fired the central bank governor over the weekend for hiking interest rates.
The lira was trading at around 7.8 against the dollar - nearly 9% down from Friday’s close. It had been weaker earlier Monday at 8.4 per dollar.

Erdogan, who advocates keeping interest rates low to tame inflation, unexpectedly fired Naci Agbal with a decree on Saturday just four months after he took office. He replaced Agbal with a banking professor who has argued for lower interest rates....ap