Turkish President Recep Tayyip Erdogan has sacked the deputy governor of the central bank, Murat Cetinkaya ten days after the dismissal of its head, which triggered a sell-off of the Turkish lira on markets for fears the country was returning to unorthodox economic policy, the Financial reports.
According to the report, Murat Cetinkaya, who had previously worked for Turkish banks and stockbrokers, was fired by a presidential decree published in the government gazette at midnight on Tuesday.
Erdogan this month fired bank governor Naci Agbal who had increased the country’s policy interest rate by a total of 875 basis points since taking the post in November.
The Turkish lira recorded new losses after the dismissal of the deputy governor of the central bank. According to Reuters, the Turkish currency fell about 0.7% to 8.28 pounds per dollar, recording losses for the fourth consecutive session and closer to the historically low of 8.58 pounds.
He will be replaced by Mustafa Duman, who was general manager and a board member at Morgan Stanley’s Turkish unit, according to news reports.
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