Falling Turkish lira has yet to boost mineral exports

By William Clarke
Published: Wednesday, 24 March 2021

The value of the Turkish currency dropped sharply after President Recep Tayyip Erdogan on March 21 announced the sacking of a third governor of the country’s central bank in less than two years, in a development which could make Turkish mineral exports more competitive.

Erdogan’s decision to fire Naci Agbal as central bank governor on Saturday March 21 followed a sudden increase in central bank rates to 19% from 17%, a move which clashed with Erdogan’s long-standing preference for low interest rates.

The country’s currency briefly traded at more than 8.00 lira...

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