The People’s Bank of China set the renminbi’s daily midpoint against the US dollar at 6.1342 Monday, 38 pips stronger than the 6.1380 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 eased 0.01 percent to 6.0936 on Friday after trading between 6.0918 and 6.0939 in Shanghai. The redback’s daily midpoint against the US dollar has risen 2.47 percent this year, central bank data shows.
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