"Markets shaky after confusion over head of central bank
Turkish currency markets were left a little uneasy following a statement issued by the office of President Ahmet Necdet Sezer denying that acting Central Bank Governor Erdem Basci has been proposed by the government as Turkey’s next permanent CB head – the confusion over the appointment resulted in the lira taking a bashing. Basci became acting governor last week, and the financial community widely expected him to be appointed in a permanent capacity after the five-year term of the previous incumbent, Sureyya Serdengecti, expired. "
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