Istanbul | Turkey's finance minister, Berat Albayrak, the son-in-law of President Recep Tayyip Erdogan, announced his resignation on Sunday evening (Monday AEDT) amid escalating fallout over the country's collapsing economy and plunging currency.

Mr Albayrak said in a personal letter posted on Instagram that he was stepping down for health reasons after five years as finance minister under Mr Erdogan.