Lira Oil. The move came due to expectations of an upcoming interest rate cut by the countrys central bank. Turkish President Recep Tayyip Erdogan replaced the republics minister of finance and treasury amid a record drop in the Turkish lira exchange rate according to the decree published in the official Resmi Gazette newspaper.
Turkish lira snaps record losing-streak but rebound leaves doubts Erdogan tolerates currency weakness in experiment of balancing inflation and. View the currency market news and exchange rates to see currency strength. Brent crude settled up 96 cents or 12 at 8124 a barrel while US.
The move came due to expectations of an upcoming interest rate cut by the countrys central bank.
Turkish lira snaps record losing-streak but rebound leaves doubts Erdogan tolerates currency weakness in experiment of balancing inflation and. The Turkish lira fell to 1024 against the US. Turkish lira slumps to record low Selloff sends lira though 131 for first time Erdoğan insists country will focus on growth employment and exports Earlier. The Turkish lira plunged as much as 15pc after President Recep Erdogan declared he would win an economic war of independence and praised low interest rates.