The People’s Bank of China set the renminbi’s daily midpoint against the US dollar at 6.0969 Tuesday, the last trading day of the year, according to the China Foreign Exchange Trade System. The Tuesday central parity rate, from which the Chinese currency is allowed to rise or fall 1 percent, is 55 pips stronger than Monday’s 6.1024 fixing and a record high since the peg ended in 2005. Spot renminbi settled at 6.0618 on Monday after trading between 6.0611 and 6.0682 in Shanghai. The redback’s daily midpoint against the US dollar has risen 3.09 percent this year, central bank data shows.
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