The Turkish lira fell to a new low on Friday, continuing the sharp losses it suffered.
The Turkish lira fell this morning against hard currencies, bringing the dollar exchange rate to about 23.50 liras, which means that the lira fell by 11.1% compared to exchange rates at the beginning of this week.
The euro exchange rate reached 25.56 liras, a decline of 13.1% compared to the beginning of the week.
The newly appointed Minister of Treasury and Finance Mehmet Şimşek asked the Turkish people – through his social media account – patience and gave them some time in order to reach the desired financial and economic goals.
The day after his appointment, Şimşek reiterated the central bank's support for fighting inflation and implementing structural reforms and new fiscal policies.
Turkey's inflation rate fell below 40 percent in May for the first time in 16 months.
On Thursday, a presidential decree was issued - announced in the Official Gazette - appointing economist Hafiza Ghada Conservative Staff of the Central Bank of Turkey, becoming the youngest province of the Turkish Central Bank in the history of Turkey, and thus the first woman to head the first position in the Central Bank of Turkey.
Arkan, 44, who also holds U.S. citizenship, earned a bachelor's degree from Turkish universities and then completed her graduate studies at U.S. universities.
Previously, she worked in senior positions at Goldman Sachs. She also served as president of the recently bankrupted U.S. bank First Republic.