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According to an overnight decree published in the official gazette on Tuesday, Turkey sacked one of four central bank deputy governors.

“Oguzhan Ozbas was removed from his post, and Semih Tumen was appointed to replace him,” the decree read.

This comes after the CBRT Governor was replaced two months ago, sending the Turkish lira to all-time lows.

Market reaction

USD/TRY posts small gains near 8.3860, as the lira remains unperturbed by the above announcement.