China's offshore yuan hits record low against USD on Apr 8
China's offshore yuan—circulated outside China and more freely traded than the currency in the domestic market—hit a record low against the USD yesterday as US-China trade tensions escalated. It fell to $7.3948 in late afternoon, before falling further. The onshore yuan fell by 0.4 per cent to 7.33 yesterday after the central bank set the mid-point rate at the weakest level since September 2023.
China's offshore yuan—circulated outside China and more freely traded than the currency in the domestic market—hit a record low against the USD yesterday as US-China trade tensions escalated.
It fell to $7.3948 in late afternoon, before falling further.
The onshore yuan fell by 0.4 per cent to 7.33 yesterday after the central bank set the mid-point rate at the weakest level since September 2023.
