The Turkish lira sank to a new low against the dollar on Wednesday, more than a week after the re-election of President Recep Tayyip Erdogan. The currency, which was propped up by the central bank before the presidential election, fell five percent to 22.77 lira per dollar at around 06:45 GMT. Erdogan was sworn in on Saturday after winning a historic election runoff on 28 May and named a new cabinet appointing market-friendly politician Mehmet Simsek as finance minister. The former Merrill Lynch economist is known to oppose Erdogan's unconventional policies. He served as finance minister between 2009 and 2015 and deputy prime minister in charge of the economy until 2
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