19:48 GMT01 March 2021
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    Turkish national currency lira has lost 4.4 percent against the US dollar dropping to 2.93 on news of Prime Minister Ahmet Davutoglu’s resignation, market data showed Friday.

    MOSCOW (Sputnik) — This is the lowest rate since March 2015, a stock market data tracker operated by the financial company Market Watch indicated.

    Davutoglu said Thursday he was stepping down as the leader of Turkey’s ruling Justice and Development (AK) Party.

    The announcement was preceded by reports of the minister’s bitter standoff with President Recep Tayyip Erdogan who wants a transition to a presidential system of government.

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    Tags:
    resignation, currency, Ahmet Davutoglu, Turkey
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