Offshore Trading of China’s Currency Sinks to Historic Low, Presenting Yet Another Problem for Developing Countries

Market indicators are displayed on digital screen at the Euronext trading exchange building in La Defense business district, west of Paris, on April 7, 2025. (Photo by Thomas SAMSON / AFP)

China’s offshore yuan fell to an all-time low against the U.S. dollar on Tuesday as trade tensions between the United States and China escalated after days of turmoil over tariffs.

The offshore yuan, which is circulated outside mainland China and is more freely traded than the currency in the domestic market, fell to $7.3948 in late afternoon deals, before falling further.

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by Eric Olander

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