The Turkish lira extended its slide Thursday amid news reports the deputy governor of the nation's central bank will step down. The U.S. dollar hit an intraday high of 6.84 lira in earlier action and remains up 4.6% near 6.76 lira. Reuters, citing two persons familiar with the matter, reported that the deputy governor and Monetary Policy Committee member, Erkan Kilimci, was set to resign. Lira weakness this year has been exacerbated, analysts say, by Turkish President Recep Tayyip Erdogan's pressure on the central bank not to raise rates. The lira is down more than 40% versus the dollar in the year to date, a slide that raised concerns about potential ripple effects on other emerging markets and about exposure to Turkey by some European banks.

How Argentina’s peso plunge keeps emerging markets in the spotlight

Argentina’s peso plunges to a record low, extending losses despite a large, emergency rate hike, while Turkey’s currency troubles continue. While the currency problems are largely homegrown, they underline worries surrounding emerging markets, analysts say.

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Turkish lira extends slide amid reports central bank deputy governor resigning