The Turkish Lira Rises by More Than 1% And Compensates For Some of Its Losses

The Turkish lira rose more than 1% on Wednesday, March 24, to offset some of the losses it incurred after President Recep Tayyip Erdogan’s surprise decision at the weekend to change the central bank governor to the last opponent of tightening fiscal policy.

The lira reached 7.8650 dollars against the dollar, up from about 7.97 on Tuesday, after plunging to a near-record low on Monday.

The currency is still down 8% since the central bank governor was replaced early Saturday.