The People’s Bank of China set the renminbi’s daily midpoint against the US dollar at 6.1053 on Tuesday, 31 pips weaker than the 6.1022 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 strengthened 0.01 percent and settled at 6.0480 on Monday after trading between 6.0459 and 6.0494 in Shanghai. The redback’s daily midpoint against the US dollar has fallen 0.14 percent this year, central bank data shows.
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