Turkish lira down 15% after the dismissal of the central bank governor

Turkish President Erdogan has gone back to his old practices by sacking the governor of the central bank, guilty of carrying out an overly restrictive monetary policy. The market reaction was not long to come: sharp fall in the Turkish lira and in domestic equities. Turkey should not remain an isolated case: with the rise in US bond yields and in the USD, downward pressures on emerging markets should intensify. There could be a little breathing room today: US bond yields are easing, but the USD remains strong, below 1.19 against the euro.

usd in turkish lira
Share this news :
Share on twitter
Share on linkedin
Share on email

You might also read :

October 26, 2021

Slight price increase

European gas prices increased yesterday. Spot prices were supported by lower Norwegian supply (322 mm cm/day on average, compared to 341 mm cm/day on Friday)…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

Subscribe to our newsletter

Don’t have an account yet?  Sign up here!