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Erdogan Fires Central Bank Head After Lira Hits Record Low

  • President Erdogan appoints Naci Agbal as central bank governor
  • Uysal loses job at monetary authority after just over a year
Naci Agbal is a household name for many Turkey watchers from his time as finance minister until 2018, the 52-year old former bureaucrat has never served at the monetary authority.

Naci Agbal is a household name for many Turkey watchers from his time as finance minister until 2018, the 52-year old former bureaucrat has never served at the monetary authority.

Bloomberg
Updated on

Turkish President Recep Tayyip Erdogan fired the country’s central bank governor, the second time in 16 months he’s ousted the top monetary official, as a series of interest rate increases failed to halt the lira’s slide to a record low.

Erdogan appointed former Finance Minister Naci Agbal to replace Murat Uysal, who had run the central bank for just over a year.