China Doubles The Daily Ruble-RMB Permitted Trading Range

Posted by

China’s Foreign Exchange Trade System (CFETS) has set a wider trading band between the Chinese RMB Yuan and Russian Ruble stating this was “in accordance with the requirements of market development”.

It widens the daily trading band for the RMB exchange rate with the Ruble, allowing the currency cross to trade 10% in either direction of a daily midpoint set by China’s central bank, up from the previous 5%. CFETS said the new trading band was set “with the approval of the People’s Bank of China and the State Administration of Foreign Exchange”. The move took effect from Friday.

The trading band change is a practical response to support trade between China and Russia, and the recent volatility of the Ruble, which has depreciated about 36% this year against both the US Dollar and the RMB Yuan. China’s currency has remained steady at about RMB6.3 against the Dollar.

Related Reading


About Us

During these uncertain times, we must stress that our firm does not approve of the Ukraine conflict. We do not entertain business with sanctioned Russian companies or individuals. However, we are well aware of the new emerging supply chains, can advise on strategic analysis and new logistics corridors, and may assist in non-sanctioned areas. We can help, for example, Russian companies develop operations throughout Asia, including banking advisory services, and trade compliance issues, and have done since 1992.

We also provide financial and sanctions compliance services to foreign companies wishing to access Russia. Additionally, we offer market research and advisory services to foreign exporters interested in accessing Russia as the economy looks to replace Western-sourced products. For assistance, please email or visit