The People’s Bank of China set the renminbi’s daily midpoint against the US dollar at 6.1124 on Monday, 24 pips stronger than the 6.1148 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 0.002 percent to 6.0712 on Friday after trading between 6.0712 and 6.0740 in Shanghai. The redback’s daily midpoint against the US dollar has risen 2.83 percent this year, central bank data shows.
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