Erdogan Dismisses the 'Culprit' Behind Lira Depreciation

The Governor of Turkey's Central Bank, Murat Uysal, has been dismissed from his position. This was reported by RBC, citing a decree from President Recep Tayyip Erdogan. The decision to remove Uysal comes amid a record drop in the value of the lira.

Earlier this week, the lira depreciated significantly, reaching 8.49 lira against 1 US dollar. The previous record low was set at the end of October. Notably, in mid-January, 1 US dollar was equal to only 0.17 lira. Thus, the Turkish currency has lost 30% of its value this year.