The People’s Bank of China set the renminbi’s daily midpoint against the US dollar at 6.1042 on Tuesday, 17 pips stronger than the 6.1059 fixing on Monday, 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 0.02 percent and settled at 6.0526 on Monday after trading between 6.0518 and 6.0553 in Shanghai. The redback’s daily midpoint against the US dollar has fallen 0.12 percent this year, central bank data shows.
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