Turkey's lira falls to record low against dollar

LONDON - Turkey's lira weakened on Friday to a record low of 20 against the dollar ahead of a presidential runoff election.

Turkey's lira, which has been steadily weakening since incumbent Tayyip Erdogan's strong showing in the first round of the presidential election, breached the 20-to-the-dollar mark ahead of Sunday's runoff vote.

Erdogan, whose unorthodox monetary policies have unnerved foreign investors and resulted in a sharp drop in the lira, is largely expected to remain in power after the runoff.