Turkey’s Central Bank Governor, Uysal Sacked

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Murat Uysal has been removed as Turkey’s Central Bank Governor and replaced with the former Finance Minister, Naci Agbal.

Although no reason was given in the presidential decree published on Saturday in an official gazette, but the move is coming after the Turkish lira currency hit record lows.

The lira which closed at 8.5445 against the dollar on Friday, lost nearly 30 percent of its value against the dollar this year.

Turkish President, Recep Tayyip Erdoğan had appointed Uysal to head the Central Bank in July 2019 when he sacked his predecessor Murat Cetinkaya amid the president’s frustration that the bank had not cut interest rates to boost the economy.

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