China's offshore yuan hits record low against dollar
The offshore yuan has hit its lowest level against the dollar on record
China's yuan hit a record low against the surging US dollar in offshore trading Wednesday, despite recent efforts by the country's central bank to shore up the currency.
The offshore yuan -- which is circulated outside mainland China and is more freely traded than currency in the domestic market -- fell to 7.2386 against the dollar on Wednesday, according to Bloomberg.