Mar 03, 2022 04:45 PM

FINANCE

Yuan Soars While Ruble Crashes During Ukraine Crisis

The yuan will continue to trade strong this month, according to an outlook from BNP Paribas. Photo: IC Photo

The yuan will continue to trade strong this month, according to an outlook from BNP Paribas. Photo: IC Photo

(Nikkei Asia) — 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.

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