Lira Extends Slump as Central Bank Deputy Said to Be Resigning
The lira headed for a fourth day of declines as the latest measures by the central bank failed to stop selling pressure.
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The lira extended this week’s slump as the Turkish central bank’s deputy governor was reportedly set to resign.
The dollar gained as much as 5.8 percent to 6.8427 against the lira, which was the worst performer among emerging markets, in thin trade during a public holiday in Turkey. The drop accelerated after central bank Deputy Governor Erkan Kilimci was said to be set to resign to join Development Bank of Turkey, according to a person familiar with the matter.