The People’s Bank of China set the renminbi’s daily midpoint against the US dollar at 6.1395 on Tuesday, 43 pips weaker than the 6.1352 fixing on Monday, according to the China Foreign Exchange Trade System. The renminbi is allowed to rise or fall 1 percent from the daily reference rate. Spot renminbi strengthened 0.07 percent to 6.0925 on Monday after trading between 6.0918 and 6.0962 in Shanghai. The redback’s daily midpoint against the US dollar has risen 2.38 percent this year, central bank data shows.
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