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Economy

Turkey's Erdogan replaces central bank governor as lira slides

Currency hits record lows as it loses 30% since the start of the year

Turkish President Tayyip Erdogan.    © Reuters

ISTANBUL (Reuters) -- Turkish President Tayyip Erdogan removed the central bank governor from his post on Saturday and replaced him with former finance minister Naci Agbal after the lira currency hit record lows, having lost 30% of its value since the start of the year.

The decision to replace Murat Uysal as governor was made by presidential decree, which was announced in the country's Official Gazette. It was not immediately clear why Uysal had been replaced.

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