SINGAPORE: Turkiye lira slid almost 1% on Monday to weaken past 21 per dollar, in a shaky initial reaction to the appointment of highly-regarded Mehmet Simsek as finance minister.

The lira hit 21.1 to the dollar in thin trade during the Asian daytime, not far above a record low of 21.8 made last week.

Turkish lira trades near record low against dollar 89

Simsek won markets’ confidence during terms as finance minister and deputy prime minister between 2009 and 2018 said on Sunday the country has no choice but to return to “rational ground”.