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Turkey will continue to adhere to free markets and a liberal exchange rate regime, Treasury and Finance Minister Lutfi Elvan said in a statement after the lira plunged after a central bank revolt.
The government will continue to prioritize price stability and fiscal policies will support the monetary authority in its efforts to curb inflation, Elvan said in a written statement.
The Turkish lira fell 15% against the dollar during the first hours of trading in Asia. It was 10% lower, at 8.0510 per dollar, as of 8:38 am in Istanbul. The currency’s intraday drop was the biggest since August 2018.
Turkish lira plummets 15% after Erdogan dismisses the head of the central bank