# Opinion: How the Ukraine Crisis Will Affect the Yuan and Other Currencies - Caixin Global

> A Caixin opinion piece examines how the Russia-Ukraine crisis and fresh US sanctions on Russian sovereign debt could affect the yuan and other currencies through three channels. Financial markets are described as on edge.

- Date: 2022-02-23 · published 2022-02-23T12:00:00.000Z
- Category: geopolitics · region Global · magnitude low
- Page: https://feedsoft.ai/events/42930-opinion-how-the-ukraine-crisis-will-affect-the-yuan-and-other-currencies-caixin
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Currency channels from the crisis shape import affordability for China and other buyers, but the piece is analysis rather than a new market event.

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2022-02-24 | [China’s yuan ‘trading like a safe haven currency’ as Ukraine crisis roils markets \| South China Morning Post](https://feedsoft.ai/events/42929-china-s-yuan-trading-like-a-safe-haven-currency-as-ukraine-crisis-roils-markets.md) | +0.1% | +0.9% |
| USDCNY | 2020-05-29 | [China steps in to defend the yuan, as US tensions and Hong Kong uncertainty send currency tumbling \| South China Morning Post](https://feedsoft.ai/events/53376-china-steps-in-to-defend-the-yuan-as-us-tensions-and-hong-kong-uncertainty-send.md) | -0.5% | -1.0% |
| USDCNY | 2022-02-22 | [China's yuan weakens as Ukraine-Russia conflict adds to market anxiety \| INTERNATIONAL MARKET NEWS - Business Standard](https://feedsoft.ai/events/42927-china-s-yuan-weakens-as-ukraine-russia-conflict-adds-to-market-anxiety.md) | -0.3% | +0.5% |
| USDCNY | 2020-07-15 | [China's yuan firms on weaker dollar but renewed Sino-U.S. worries cap gains \| Financial Post](https://feedsoft.ai/events/52325-china-s-yuan-firms-on-weaker-dollar-but-renewed-sino-u-s-worries-cap-gains.md) | -0.4% | -0.9% |
| USDCNY | 2019-05-29 | [Korea should brace for US-China currency war  - The Korea Times](https://feedsoft.ai/events/59316-korea-should-brace-for-us-china-currency-war-the-korea-times.md) | -0.0% | -0.4% |

## Sources

- caixinglobal.com: https://www.caixinglobal.com/2022-02-23/opinion-how-the-ukraine-crisis-will-affect-the-yuan-and-other-currencies-101845717.html

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