Turkish lira has been falling for three days, as euphoria in regards to rate hike last week started to fade, Bloomberg reports. Now all attention turned to economic problems that Turkey faced.

Currency lost 1% relative to dollar. Lira demonstrates the biggest losses and the highest volatility among emerging markets’ currencies.

Turkish currency lost 40% since the beginning of this year, and this significantly hurt the economy of the country that heavily relies on foreign inflows. Inflation level was 18%, and investors assume that central bank took decisive steps too late.

Lira is trading at rate 6,34444 per dollar. Losses this week are 3% already.

Investor’s attention will turn to new medium term economic program that will be presented this Thursday.