Turkish lira extends losses after replacing the central bank Governor

Shafaq News/ Turkey’s lira lost more than 1% of its value on Monday, continuing its sharp decline since President Tayyip Erdogan replaced the central bank governor this month, leading to expectations of loose policy.

According to Reuters, the lira stood at 8.14 against the dollar at 0818 GMT, down from 8.0775 at Friday’s close. Earlier, it weakened more than 1% to 8.1700.