The People’s Bank of China set the renminbi’s daily midpoint against the US dollar at 6.1109 on Thursday, 30 pips weaker than the 6.1079 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 was flat at 6.0512 on Wednesday after trading between 6.0509 and 6.0527 in Shanghai. The redback’s daily midpoint against the US dollar has fallen 0.23 percent this year, central bank data shows.
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