The People’s Bank of China set the renminbi’s daily midpoint against the US dollar at 6.1083 Monday, according to the China Foreign Exchange Trade System. The central parity rate, from which the Chinese currency is allowed to rise or fall 1 percent, is 42 pips weaker than Friday’s 6.1041 fixing. Spot renminbi strengthened 0.09 percent to 6.0502 Friday after trading between 6.0486 and 6.0550 in Shanghai. The redback’s daily midpoint against the US dollar has fallen 0.19 percent this year, central bank data shows.
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