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Turkish lira slums toward record low on central bank woes, yen gains

The Turkish lira slumped toward a record low versus the dollar after President Erdogan stunned investors over the weekend by replacing the hawkish central bank governor with a critic of high rates

Topics
Turkish lira | Yen | Currency

Reuters  |  TOKYO 

By Stanley White TOKYO (Reuters) - The Turkish lira slumped toward a record low versus the dollar after President Tayyip Erdogan stunned investors over the weekend by replacing the hawkish central bank governor with a critic of high interest rates. The yen rose against the euro and the antipodean currencies on speculation that Japanese individual investors who have been buying the lira recently for its high rates will be forced to cut losses and close out their positions. Worries that events in Turkey will cause disruptions in other financial markets also supported the dollar ...

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First Published: Mon, March 22 2021. 06:38 IST
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