ANKARA, March 9 Reuters Turkey39;s lira weakened to a fresh record low of 18.9620 against the dollar on Thursday, as investors weigh the economic impact of massive earthquakes that hit the country last month.

Presidential and parliamentary elections scheduled for May 14 are adding to uncertainty. They will determine whether Turkey continues with unorthodox policies under President Tayyip Erdogan or reverts to orthodoxy as promised by the opposition.

Separately, Turkey39;s Treasury said on Thursday it had borrowed 2.25 billion in a eurobond issue maturing in 2029, bringing the amount it borrowed from international markets to 5 billion this year.

The yield to investor in the latest issue was 9.50, down from 9.75 in the eurobond issued in January, the Treasury said, adding that demand was more than triple the amount issued.

More than a third of the amount issued was sold to investors in the United Kingdom and more than 20 to those in the United States, it said.

The lira has been largely stable since August thanks to authorities39; heavy hand in the forex market, including a decline of about 9.4 billion in reserves since the first quake hit in early February.

Dipping into reserves has been a regular feature of the government39;s unorthodox economic policy in recent years, especially since a historic currency collapse in late 2021.

The central bank replenishes its reserves in several ways, including requiring exporters to sell a portion of revenues to it. Authorities…