Turkish Lira Surges After Central Banker Ousted, Finance Minister Quits

The Turkish lira, indubitably one of the crucial worst-performing emerging-market currencies this yr, soared against the U.S. dollar in early trading Monday after a shock weekend shake-up that saw President Recep Tayyip Erdogan pushing aside the governor of Turkey’s central bank and the finance minister asserting his resignation.

The lira received as grand as 5.8% when foreign money markets reopened, standing as sturdy as 8.03 against the dollar, compared with a discontinuance of 8.51 on Friday, on investor expectations that the fresh governor, Naci Agbal, would…