The currency hit a record low of just over 13 lira to the dollar, before recovering slightly, marking 11 straight days of falls.
Mr Erdogan has pushed Turkey’s central bank to make three rate cuts since September, the most recent last week.
But this has been blamed for driving up inflation which is now at 20%.
Investors are losing confidence and the lira has shed some 45% of its value this year, making it the world’s worst performing currency.
Despite this, Mr Erdogan vowed to stick to his policies on Monday, arguing that high interest rates would not lower inflation – an unorthodox view he has repeated for years.
