USD/TRY refreshes one-week top above 8.2000 as Turkish Pres. Erdogan fires CBRT Dep. Governor

Having removed the Turkish central bank Governor last week, President Recep Tayyip Erdoğan fired Central Bank of the Republic of Turkey’s (CBRT) Deputy Governor Murat Çetinkaya during the early Tuesday morning in Asia. As per the news, Mustafa Duman is up for taking over the responsibilities as a CBRT Deputy Governor.

USD/TRY extends run-up…

Following the news, USD/TRY rises from 8.2000 to 8.2700 while marking the fresh high since last Monday, which took clues from the firing of CBRT Governor.

Earlier in the day, President Erdogan called on Turks to convert their foreign exchange and gold holdings through financial institutions as a “win-win” strategy for the country and themselves, per Reuters.