July 11, 2019 / 2:45 AM / 2 months ago

Turkish lira pares some losses, down 1.9% vs dollar in early Asian trade

FILE PHOTO: A merchant counts Turkish lira banknotes at the Grand Bazaar in Istanbul, Turkey, March 29, 2019. REUTERS/Murad Sezer

TOKYO (Reuters) - The Turkish lira weakened sharply after President Tayyip Erdogan dismissed the central bank governor over the weekend, but pared some losses in early Asian trade on Monday.

The lira traded at 5.7390 to the dollar TRYTOM=D3 TRYTOM=D4, down 1.9 percent on the day (at 2333 GMT Sunday).

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.

Reporting By Tomo Uetake; Editing by Jacqueline Wong

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