The Turkish Lira strengthened against the U.S. dollar in European trading on Monday, after the Turkish Prime Minister Binali Yildirim said the government would introduce multibillion-dollar infrastructure fund to help support economy.

Yildirim said the new wealth-management fund is intended to finance large-scale projects and would not affect the country's low budget deficit.

The Turkish currency climbed by 2.3 percent to a 5-day high of 3.0250 against the greenback, from a record low of 3.0967 hit last week.

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