Business Standard

China's yuan weakens as Ukraine-Russia conflict adds to market anxiety

China's yuan weakened against the dollar on Tuesday as investors rushed to safe-haven currencies amid elevated market anxiety after Putin ordered troops into breakaway regions of Eastern Ukraine.

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Reuters Shanghai
China's yuan weakened against the dollar on Tuesday as investors rushed to safe-haven currencies amid heightened market anxiety after Russian President Vladimir Putin ordered troops into breakaway regions of eastern Ukraine.

The People's Bank of China set the midpoint rate at 6.3487 per dollar prior to market open, weaker than the previous fix 6.3401. In the spot market, the yuan opened at 6.3380 per dollar and was changing hands at 6.3440 at midday, 88 pips weaker than the previous late session close.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Feb 22 2022 | 12:49 PM IST

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