President Erdogan fires the head of the central bank - imported goods for Turkey are massively more expensive

The Turkish lira is at a record low against other currencies.

At exactly this time, Turkish President Recep Tayyip Erdogan dismisses the head of the central bank.

Istanbul - In the midst of the accelerated decline in the Turkish lira, President

fired central bank chief Murat Uysal.

This emerges from a decree published on Saturday night.

Uysal is now due to vacate the post for Naci Agbal, who was

from 2015 and 2018

.

No reason was given.

For around ten weeks, the

been back on an accelerated slide against other major currencies.

On Friday, the

hit

a

in trading with the US dollar

.

For one dollar, 8,576 lira had to be paid at times;

that is around 49 percent more than a year earlier.

Recently, one euro cost almost 10.18 lira at times;

this even corresponds to an increase of around 60 percent within a year.

Also to other major currencies like the Swiss franc, the pound sterling and the Japanese yen, the Turkish currency has strongly

lost.

This means that

are

massively more expensive for the Turks.

Erdogan: Turkey wages economic war against a "devil's triangle"

Erdogan had only appointed Uysal as

the

in July 2019

.

Its predecessor Murat Cetinkaya had failed to follow the instructions on the key interest rate, it was said at the time to justify it.

The conservative president, who

advocates

an unorthodox

, often describes the key interest rate as the “mother of all evil” and urges it to be lowered.

Turkey is waging an economic war against a "devil's triangle" consisting of interest rates, exchange rates and inflation, Erdogan said last weekend.

The

Turkish currency

the most recent major

in October when the

country's

failed to

the

as widely expected.

Despite a high

of just under twelve percent, the central bank left the key interest rate unchanged at 10.25 percent, thus giving up hope of a cycle of interest rate hikes in the fight against inflation.