China's yuan hits 19-month low after central bank guides currency weaker

Fixing at 7.2 per dollar may signal more proactive stance to ease trade war impact

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The People's Bank of China fixed the yuan reference rate at 7.2038 per dollar on April 8, the weakest level since September 2023. © Reuters

WATARU SUZUKI

SHANGHAI -- China's currency fell to its lowest level against the U.S. dollar in 19 months on Tuesday after the central bank set its reference rate weaker amid a rapidly escalating trade war.

The onshore yuan hit 7.34 per dollar, its lowest since September 2023.

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