The stock market reacted negatively immediately after the announcement of the Council of Ministers by Turkish President Tayyip Erdogan, causing the Turkish pound to fall and the dollar to rise by 2,40% in a short time.
Political analysts believe that the removal of the Ministers who determined the policy of the country's economy Mehmet Simsek Naci Agbar, Nihat Zeybekci and Lutfi Elvan on the one hand and the appointment of the son-in-law of the Turkish President Berat Albayrak due to crisis in Turkey is the reason for this negative market reaction.
The fall in the value of the pound is expected to continue today with the opening of European stock exchanges.
Berat Albayrak is taking over the portfolio of Finance in the midst of a difficult economic situation.
The Turkish currency has been falling for weeks, with economists warning of the risk of overheating. However, experts say the Turkish central bank should take action, but President Erdogan opposes the idea.
