Turkish Lira Rallies After Finance Minister Resigns

Istanbul, Nov 9 (AFP/APP): The Turkish lira, one of the world’s worst performing currencies, gained around 2.5 percent against the dollar Monday after Berat Albayrak stepped down as finance minister.

The lira was 8.19 against the dollar at 0800 GMT, after opening the day at around 8.40. In an unexpected move, Albayrak, finance minister since 2018, resigned late Sunday citing health concerns. “After serving in ministerial posts for nearly five years, I took the decision not to continue my duty (as finance minister) due to health issues,” he said in a statement on his official Instagram account.

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