The People’s Bank of China set the renminbi’s daily midpoint against the US dollar at 6.1317 Tuesday, 15 pips stronger than the 6.1332 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 strengthened 0.01 percent to settle at 6.0920 on Monday after trading between 6.0908 and 6.0930 in Shanghai. The redback’s daily midpoint against the US dollar has risen 2.51 percent this year, central bank data shows.
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