The turkish lira is one of the worst-performing emerging market currencies this year. The lira hit an all-time low of 4.1944 against the dollar, a depreciation of 9.4 percent this year. Against the euro, it fell to a record low of 5.1914. Investors say the bulk of Turkey’s problems are homegrown. President Tayyip Erdogan dismissed this developments as an economic attack by enemies of the state.