The People’s Bank of China set the renminbi’s daily midpoint against the US dollar at 6.1108 Tuesday, 16 pips stronger than the 6.1124 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 settled at 6.0715 on Monday after trading between 6.0713 and 6.0731 in Shanghai. The redback’s daily midpoint against the US dollar has risen 2.86 percent this year, central bank data shows.
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