The People’s Bank of China set the renminbi’s daily midpoint against the US dollar at 6.1412 Wednesday, 39 pips weaker than the 6.1373 fixing on Tuesday, 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 eased 0.08 percent to 6.0902 on Tuesday after trading between 6.0848 and 6.0907 in Shanghai. The redback’s daily midpoint against the US dollar has risen 2.35 percent this year, central bank data shows.
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