The People’s Bank of China set the renminbi’s daily midpoint against the US dollar at 6.1342 Wednesday, 18 pips stronger than the 6.1360 fixing on Tuesday, according to the China Foreign Exchange Trade System. The renminbi is allowed to rise or fall one percent from the daily reference rate. Spot renminbi eased 0.01 percent to 6.0919 on Tuesday after trading between 6.0907 and 6.0936 in Shanghai. The redback’s daily midpoint against the US dollar has risen 2.47 percent this year, central bank data showed.
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