The Turkish lira has held steady as investors weighed the impact of US sanctions over the country's purchase of a Russian S-400 defence system, while the country's benchmark stock index reached a record high.
Turkey's benchmark stock index reached a record high, with Halkbank jumping 5 percent. The bank was previously indicted on charges of helping Iran evade US sanctions. "The underlying story for the rouble is pretty constructive. You've got oil prices that are looking a lot more solid than they were before. That's very good, particularly for their current account surplus," Kinsella said.
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Because those sanctions are just on paper actually it has no important effect! Much worse was being anticipated