Yeni Şafak English

Turkish lira gains value as new central bank boss assumes charge

News Service
08:419/11/2020, Monday
AA
Turkish lira and U.S. dollar banknotes are seen
Turkish lira and U.S. dollar banknotes are seen

New Central Bank chief says decisive use of all policy tools in pursuit of price stability objective

The Turkish lira on Monday gained value as the new central bank governor assumed the charge. The US dollar/Turkish lira exchange rate was down by around 4% versus Friday's close.


On Saturday, Turkey dismissed Murat Uysal as central bank governor and replaced him with former Finance Minister Naci Agbal.

In a statement on Monday, Agbal stressed decisive use of all policy tools in pursuit of price stability objective.


The monetary policy communication will be strengthened in the framework of transparency, accountability and predictability principles, he said.

The USD/TRY exchange rate dropped to around 8.20 currently, from around 8.55 at Friday's close.

#Central Bank
#Exchange rate
#Naci Agbal
#Turkish lira
#USD
Comments

Hello, the comments you share on our site are a valuable resource for other users. Please respect other users and different opinions. Do not use rude, offensive, derogatory, or discriminatory language.

No comments yet

The floor is all yours.

Click here to receive the most important news of the day by email. Subscribe here.

By subscribing, you agree to receive electronic communications from Albayrak Media Group websites and accept the Terms of Use and Privacy Policy.