STORY: Erdogan appoints Erkan as governor of Turkish central bank
DATELINE: June 10, 2023
LENGTH: 00:01:08
LOCATION: Ankara
CATEGORY: POLITICS

SHOTLIST:
1. various of Hafize Gaye Erkan, the new governor of Türkiye's Central Bank (courtesy of ihlas news agency)
2. various of Türkiye's central bank
3. various of Turkish President Recep Tayyip Erdogan at the new cabinet meeting (courtesy of Turkish Presidency)
5. various of Turkish lira 
6. various of Türkiye's central bank

STORYLINE:

Turkish President Recep Tayyip Erdogan appointed Hafize Gaye Erkan as the new governor of Türkiye's central bank, the Official Gazette announced on Friday.

Graduating from industrial engineering at Istanbul's Bogazici University, Erkan has a doctorate in operations research and financial engineering from Princeton University.

She has served as the former co-CEO at U.S.-based First Republic Bank, member of the board of directors at Marsh McLennan, managing director at Goldman Sachs, and board member at the jewelry firm Tiffany & Co.

The appointment took place as part of Erdogan's restructuring of the country's economic administration, following the recent presidential and parliamentary elections.

After his sworn-in last week for another five-year term following the victory in the May 28 election, Erdogan made a major reshuffle in his cabinet and appointed Mehmet Simsek as the new treasury and finance minister, signaling that the government would tighten monetary policies after years of low interest rates.

In the past two years, the Turkish lira has experienced a significant decline in value against the U.S. dollar, losing more than 60 percent of its value. This downward trend resulted in the Turkish currency reaching an all-time low against the U.S. dollar on Friday, with an exchange rate of over 23.5 liras against the greenback.

Xinhua News Agency correspondents reporting from Ankara.
(XHTV)