The People’s Bank of China set the renminbi’s daily midpoint against the US dollar at 6.1196 on Friday, 13 pips weaker than the 6.1183 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 6.0713 on Thursday after trading between 6.0705 and 6.0756 in Shanghai. The redback’s daily midpoint against the US dollar has risen 2.71 percent this year, central bank data shows.
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