Turkish lira plunges 17% after central bank boss sacked ...Kuwait

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Turkish lira plunges 17% after central bank boss sacked
The Turkish lira plummeted mere days after the central bank's governor was sacked and replaced. The Turkish lira collapsed more than 17 percent on Monday after President Recep Tayyip Erdogan sacked the country's market-friendly central bank chief. The currency fell to as low as 8.47 per US dollar in early trade Monday, having closed at 7.22 at the end of last week, after Naci Agbal was replaced by former ruling party lawmaker Sahap Kavcioglu during the weekend. It later recovered slightly to sit at 8.09. While a presidential decree on Friday did not explain why Agbal had been removed, it came just a day after the bank hiked interest rates more than two percentage points to 19 percent as it

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