The People’s Bank of China set the renminbi’s daily midpoint against the US dollar at 6.1390 Monday, 35 pips weaker than the 6.1355 fixing on Friday, 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 0.005 percent to 6.0905 on Friday after trading between 6.0828 and 6.0933 in Shanghai. The redback’s daily midpoint against the US dollar has risen 2.39 percent this year, central bank data shows.
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