Turkish Lira Falls Following Appointment of Simsek as Finance Minister

The Turkish lira fell by about one percent today, Monday, reaching 21 liras to the dollar, in a fragile initial reaction to the appointment of influential figure Mehmet Simsek as Turkey's finance minister. The Turkish lira was trading at 21.1 against the dollar in Asian financial markets. This price was not far from the record low it hit against the dollar last week, when it reached 21.8 per dollar.