ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Yuan soars while ruble crashes during Ukraine crisis

Chinese currency seen as cross-border haven amid sanctions against Moscow

Strong Chinese exports have contributed to the unusual appreciation of the yuan during the Ukraine war.   © Reuters

HONG KONG -- The yuan has appreciated to a level not seen in nearly four years on China's robust exports and an influx of funds into its capital markets, with some experts predicting that the currency will gain more users due to sanctions on Russia over the invasion of Ukraine.

On Wednesday, the yuan traded just over 6.30 per dollar, a high not seen since April 2018.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more