The People’s Bank of China set the renminbi’s daily midpoint against the US dollar at 6.1372 on Friday, 59 pips stronger than Thursday’s 6.1431 fixing, according to the China Foreign Exchange Trade System. That is a fresh record high for the Chinese unit’s daily central parity rate against the greenback since the peg ended in 2005. The renminbi is allowed to rise or fall 1 percent from the daily reference rate. Spot renminbi strengthened 0.07 percent to 6.0982 on Thursday after trading between 6.0950 and 6.0998 in Shanghai. The redback’s daily midpoint against the US dollar has risen 2.42 percent this year, central bank data shows.
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