The Turkish lira fell to record lows against the greenback overnight Tuesday.
The lira fell 4.8% to 4.9233 per dollar around 8:30 a.m in Istanbul.
Investors pulled cash out of the country ahead of a presidential election next month.
Turkish President Recep Tayyip Erdogan is a self-proclaimed "enemy" of interest rates.
Erdogan says that if he wins the election, he will take more responsibility for the economy.
