China Eases Control to Let Ruble Fall Faster Against Yuan

China Eases Control to Let Ruble Fall Faster Against Yuan
Russian ruble coins and banknotes pictured next to Russian ruble sign in Moscow on Aug. 13, 2021. Kirill Kudryavtsev/AFP via Getty Images
The Associated Press
Updated:

BEIJING—The Chinese regime is easing exchange rate controls to let the Russian ruble fall faster in value against the Chinese yuan to help insulate Beijing from economic sanctions on Moscow.

The margin by which the ruble is allowed to fluctuate against the yuan in state-controlled daily trading will be doubled in size to 10 percent above or below the day’s opening price starting Friday, the China Foreign Exchange Trade System announced.