The Turkish currency fell by more than 10% over the past two days, and reached in trading on Friday to the level of 24.5 liras per dollar. The appointment of a conservative chief of staff to Turkey's central bank is expected to lead a shift in the country's fiscal and monetary policies.
New Finance Minister Mehmet Şimşek has a liberal vision to resolve the currency crisis and inflation. The new policies are expected to cause the lira to fall to its fair value.