The People’s Bank of China set the renminbi’s daily midpoint against the US dollar at 6.1059 on Monday, 20 pips weaker than the 6.1039 fixing on Friday, 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 eased 0.01 percent and settled at 6.0515 on Friday after trading between 6.0512 and 6.0524 in Shanghai. The redback’s daily midpoint against the US dollar has fallen 0.15 percent this year, central bank data shows.
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