The People’s Bank of China set the renminbi’s daily midpoint against the US dollar at 6.1447 Tuesday, 35 pips stronger than the 6.1482 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 opened at 6.0992 on Monday and closed at the same price after trading between 6.0962 and 6.1025 in Shanghai. The redback’s daily midpoint against the US dollar has risen 2.29 percent this year, central bank data shows.
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