The People’s Bank of China set the renminbi’s daily midpoint against the US dollar at 6.1148 on Friday, 33 pips weaker than the 6.1115 fixing on Thursday, 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 and settled at 6.0711 on Thursday after trading between 6.0707 and 6.0779 in Shanghai. The redback’s daily midpoint against the US dollar has risen 2.79 percent this year, central bank data shows.
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