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Currencies

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.

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