Turkish lira sinks 2% after Erdogan sacks central bank governor

Country’s sovereign debt and stock market also sustain blows

The Turkish lira suffered its worst day in months on Monday after President Recep Tayyip Erdogan sacked the country’s central bank governor over a dispute about interest rates.

The currency, which had enjoyed a rally throughout May and June, was down more than 2 per cent against the dollar at 7.45am BST following the firing of Murat Cetinkaya.

In Asia trading, the currency had fallen as much as 3 per cent before trimming losses. The currency came under fresh pressure as Turkish financial markets opened on Monday morning.

Read more HERE