The People’s Bank of China set the renminbi’s daily midpoint against the US dollar at 6.1005 Wednesday, 75 pips weaker than the 6.0930 fixing on Tuesday, 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 0.04 percent to 6.0412 on Tuesday after trading between 6.0406 and 6.0431 in Shanghai. The redback’s daily midpoint against the US dollar has fallen 0.06 percent this year, central bank data shows.
– Contact HKEJ at [email protected]