Turkey’s central bank chief ousted after lira plunges to record lows

SANAA, Nov. 7 (YPA) – The Turkish president, Recep Tayyip Erdoğan, has removed the governor of the country’s central bank Uysal from his post and appointed Naji Aghbal, head of the Presidential Strategy and Budget Department, as his successor.

The former Minister of Economy, Nihad Zebekji, was appointed as a member of the Economic Policy Committee at the Presidency of the Republic.
The Turkish lira’s exchange rate plummeted to the lowest level in which the currency has known, since its six zeros were canceled in early 2005, to record the dollar at about 8.50 liras per dollar, which was seen by observers as a “disaster”, and it also called a governmental mobilization in Turkey.
However, the state’s intervention did not stop the decline in the exchange rate, which specialists attributed to mostly political and external reasons.