The People’s Bank of China set the renminbi’s daily midpoint against the US dollar at 6.1352 Tuesday, 23 pips weaker than the 6.1329 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 0.005 percent to 6.0929 on Monday after trading between 6.0922 and 6.0936 in Shanghai. The redback’s daily midpoint against the US dollar has risen 2.45 percent this year, central bank data shows.
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