July 7, 2019 / 7:01 PM / 12 days ago

Turkish lira weakens to 5.79 after dismissal of cenbank governor

ANKARA, July 7 (Reuters) - The Turkish lira weakened to 5.79 against the U.S. dollar on Sunday evening from 5.6345 in last U.S. trade on Friday, after President Tayyip Erdogan dismissed the central bank governor early on Saturday.

Governor Murat Cetinkaya, whose four-year term was due to run until 2020, was replaced by his deputy Murat Uysal, a presidential decree published early on Saturday in the official gazette showed.

Erdogan sacked the central bank governor for refusing the government’s repeated demands for rate cuts, Hurriyet newspaper on Sunday quoted Erdogan as telling a meeting with his party’s lawmakers. (Reporting by Ece Toksabay Editing by Alexandra Hudson)

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