Naci Agbal had been credited as a key force in pulling the lira back from historic lows.

Mr Erdogan replaced him in a surprise move on Saturday, the third central bank governor exit in under two years. 

Agbal, appointed in November, had been raising interest rates to fight an inflation rate running above 15%.

The removal has shocked both local and foreign investors who had praised Turkey’s central bank’s recent monetary policy.

The lira was at one point the best performing emerging-market currency of 2021, having recovered almost a fifth from a low against the US dollar.

(BBC)