The People’s Bank of China set the renminbi’s daily midpoint against the US dollar at 6.1425 on Thursday, 13 pips weaker than the record 6.1412 fixing on Wednesday, 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 0.06 percent at 6.0938 on Wednesday after trading between 6.0908 and 6.0950 in Shanghai. The redback’s daily midpoint against the US dollar has risen 2.33 percent this year, central bank data shows.
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