China’s offshore yuan fell to a record low, reaching 7.3848 per dollar, after the People’s Bank of China eased its grip on the currency in response to escalating tensions with the US in a trade war. This marks the weakest level since September 2023.
Source: https://www.bloomberg.com/news/articles/2025-04-08/pboc-greenlights-yuan-weakness-with-fixing-past-7-2-per-dollar