Lira plunged by 15% on Monday after Erdoğan replaced governor with party loyalist
Turkey’s economy has been thrown into renewed turmoil after the president, Recep Tayyip Erdoğan, sacked the head of the country’s central bank days after raising interest rates to tackle soaring inflation.
The Turkish lira plunged by almost 15% on Monday, while the Istanbul stock exchange shed a 10th of its value after the president shocked global investors by replacing Naci Ağbal with a party loyalist.
