Erdogan fired Central Bank chief

The decision to replace this official was made through a presidential decree and was made public in the official newspaper in the early hours of Saturday, writes The Guardian, broadcast newspaper Express.

An American dollar was returned with 8.54 lira on Friday after it reached the record of the lowest value 58, despite the weakening of the dollar at the time of continuing vote count in the United States presidential elections.

The dismissed Guvernato, who formerly served as deputy governor, was assigned to this position in July last year, when Erdogan had fired Uysal's predecessor, Murat Cetinkaya, due to the president's anger that the Central Bank had not reduced the interest rate to boost economic growth.

Erdogan has declared himself an enemy of high interest and has repeatedly called for lower borrowing costs. Last weekend, he said Turkey is fighting an economic fight with those who have introduced it, as he said, the Devil's triangle of interest and exchange rates, as well as inflation.

However, Capital Economics warned this week that Turkey is in danger of facing a full currency crisis, such as the one in 2018, if the Central Bank does not impose stricter currency policies.