The People’s Bank of China set the renminbi’s daily midpoint against the US dollar at 6.1039 on Friday, 49 pips weaker than the 6.0990 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 0.05 percent and settled at 6.0506 on Thursday after trading between 6.0500 and 6.0526 in Shanghai. The redback’s daily midpoint against the US dollar has fallen 0.11 percent this year, central bank data shows.
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