Because of the collapse of the Turkish economy .. Erdogan sacks...

Because of the collapse of the Turkish economy .. Erdogan sacks...
Because of the collapse of the Turkish economy .. Erdogan sacks...

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Turkish President Recep Tayyip Erdogan, Governor of the Central Bank, Murat Uysal.

Erdogan ordered the appointment of former Finance Minister Naji Iqbal to succeed Awsal, according to a presidential decree published in the Official Gazette on Saturday.

The changes in the Turkish financial authorities came in an attempt to stop the bleeding of the lira against the dollar, and its decline to unprecedented levels.

The lira had fallen to a record level, as its exchange rate reached 8.5793 against the dollar, on Friday.

The lira has fallen by more than 30 percent this year, being the worst performing currency in emerging markets, according to Bloomberg Agency.

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