The People’s Bank of China set the renminbi’s daily midpoint against the US dollar at 6.1475 Wednesday, 28 pips weaker than the 6.1447 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 strengthened 0.04 percent to 6.0968 on Tuesday after trading between 6.0957 and 6.0990 in Shanghai. The redback’s daily midpoint against the US dollar has risen 2.24 percent this year, central bank data showed.
– Contact HKEJ at [email protected]