Erdogan sacks central bank governor as lira currency hits record low

Turkish President Recep Tayyip Erdogan has removed the central bank governor in an overnight decree, following weeks of currency depreciation.Murat Uysal, who has been serving as governor since July 2019, has been replaced with Naci Agbal, a former finance minister, the decree published in the Official Gazette said, without citing a reason.Turkey’s lira currency plunged to a record low of 8.576 against the US dollar on Friday. It is among the worst emerging market currency performers this year.Last year, Erdogan handpicked then-deputy governor Uysal to lead the central bank, saying his predece…

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