The People’s Bank of China set the renminbi’s daily midpoint against the US dollar at 6.1305 Wednesday, 12 pips stronger than the 6.1317 fixing on Tuesday, according to the China Foreign Exchange Trade System. That is a fresh record high for the Chinese unit’s daily central parity rate against the greenback since the peg ended in 2005. The renminbi is allowed to rise or fall one percent from the daily reference rate. Spot renminbi eased 0.01 percent to 6.0927 on Tuesday after trading between 6.0910 and 6.0933 in Shanghai. The redback’s daily midpoint against the US dollar has risen 2.53 percent this year, central bank data showed.
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