The People’s Bank of China set the renminbi’s daily midpoint against the US dollar at 6.1089 on Friday, as the markets reopened after a week-long Chinese New Year holiday, according to the China Foreign Exchange Trade System. The latest reference rate is 39 pips weaker than the 6.1050 fixing on Jan. 30 before the markets were shut for holidays. The renminbi is allowed to rise or fall 1 percent from the daily reference rate. Spot renminbi eased 0.08 percent to 6.0600 on Jan. 30 after trading between 6.0536 and 6.0617 in Shanghai. The redback’s daily midpoint against the US dollar has fallen 0.2 percent this year, central bank data shows.
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