# Yuan soars while ruble crashes during Ukraine crisis - Nikkei Asia

> The yuan has appreciated to its strongest level in nearly four years on robust Chinese exports and capital inflows, while the ruble crashed amid sanctions over Russia's invasion of Ukraine. Experts expect the yuan to gain more international users due to the sanctions.

- Date: 2022-03-02 · published 2022-03-02T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/42489-yuan-soars-while-ruble-crashes-during-ukraine-crisis-nikkei-asia
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A stronger yuan reduces China's dollar-denominated import costs for feed commodities at the margin, while sanctions on Russia shift trade and payment flows.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2018-08-27 | [Yuan rallies as Chinese central bank revives pricing support - Nikkei Asia](https://feedsoft.ai/events/63744-yuan-rallies-as-chinese-central-bank-revives-pricing-support-nikkei-asia.md) | +0.4% | +0.8% |
| USDCNY | 2025-09-25 | [China's yuan surges to 10-month high against dollar as US tensions ease - Nikkei Asia](https://feedsoft.ai/events/23112-china-s-yuan-surges-to-10-month-high-against-dollar-as-us-tensions-ease-nikkei.md) | -0.2% | -0.1% |
| USDCNY | 2019-01-15 | [Hopes for trade talks move yuan to 6-month high - Nikkei Asia](https://feedsoft.ai/events/61314-hopes-for-trade-talks-move-yuan-to-6-month-high-nikkei-asia.md) | +0.7% | +0.2% |
| USDCNY | 2021-02-24 | [The yuan is on a tear, but is it sustainable? - Asia Times](https://feedsoft.ai/events/48871-the-yuan-is-on-a-tear-but-is-it-sustainable-asia-times.md) | +0.1% | +0.8% |
| USDCNY | 2025-08-28 | [Chinese Yuan Rises After PBOC Fixing - WSJ](https://feedsoft.ai/events/23542-chinese-yuan-rises-after-pboc-fixing-wsj.md) | -0.2% | -0.3% |

## Sources

- asia.nikkei.com: https://asia.nikkei.com/business/markets/currencies/yuan-soars-while-ruble-crashes-during-ukraine-crisis

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.