Turkey’s Erdogan ousts central bank governor as lira slides

Turkish President Tayyip Erdogan fired central bank governor Murat Uysal on Saturday and replaced him with ex-finance minister Naci Agbal, acting after a 30% plunge in the lira currency’s value to record lows this year. The decision to replace Murat Uysal gives Turkey its fourth central bank governor in five years and could stoke longstanding criticism about political interference in monetary policy. The presidential decree was announced in the early hours Saturday in Turkey’s Official Gazette and gave no reason for the surprise move.

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