The Turkish lira weakened by 1% against the dollar

The Turkish lira weakened by 1% against the dollar

The Turkish lira traded at 6.73 against the dollar on Friday, falling more than 1 percent from a day earlier when it fell after news that Deputy Central Bank Governor Erkan Kilimi would leave the bank.

The pound closed at 6.6500 on Thursday and touched 6.8994 overnight before rebounding to the current level at 6.73.

Turkish President Recep Tayyip Erdogan has long pressed the central bank against tightening monetary policy, calling itself an “interest rate foe”, giving priority to rapid growth on easing inflation, which now stands at more than 15 percent. This led to the lira over time as investors lost confidence in the country’s fiscal discipline.