The People’s Bank of China set the renminbi’s daily midpoint against the US dollar at 6.1330 Wednesday, 27 pips stronger than the 6.1357 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 0.002 percent to 6.0927 on Tuesday after trading between 6.0920 and 6.0930 in Shanghai. The redback’s daily midpoint against the US dollar has risen 2.49 percent this year, central bank data showed.
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