The same day in February that forces loyal to Vladimir Putinswept into Crimea, drawing international outrage that has sinceisolated Russia and diminished the ruble, China's yuan surpassedthe Swiss franc as the seventh-most-used currency in the world.

It was another victory for Chinese President Xi Jinping in hisbid to make the yuan an international reserve currency, and it wasan economic retreat for Putin. After proclaiming in 2007 that theruble was poised to become a haven for global investors, theRussian leader has watched it fade, a victim of his nation'sstagnating economy since the land grab in Ukraine. Now so muchmoney is leaving Russia that its central bank is consideringtemporary capital controls, according to two officials with directknowledge of the discussions.

The ruble's share of global trading dropped to 0.4 percent from0.6 percent since 2012, falling five places to rank 18thmost-traded in the world, while the yuan tripled to 1.5 percent,according to the Society for Worldwide Interbank FinancialTelecommunication, or SWIFT. Even as protests in Hong Kong thisweek challenged China's leadership, direct trading began betweenthe yuan and the euro, capping a year in which trade with EuropeanUnion nations grew 12 percent.