The People’s Bank of China set the renminbi’s daily midpoint against the US dollar at 6.1156 on Thursday, four pips stronger than the 6.1160 fixing on Wednesday, 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 6.0714 on Wednesday after trading between 6.0708 and 6.0718 in Shanghai. The redback’s daily midpoint against the US dollar has risen 2.78 percent this year, central bank data shows.
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