Date
18 October 2017

Central bank sets RMB midpoint firmer at 6.1070

The People’s Bank of China set the renminbi’s daily midpoint against the US dollar at 6.1070 on Friday, 30 pips stronger than the 6.1100 fixing on Thursday, 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 eased 0.02 percent to 6.0636 on Thursday after trading between 6.0633 and 6.0662 in Shanghai. The redback’s daily midpoint against the US dollar has fallen 0.17 percent this year, central bank data shows.

– Contact HKEJ at digest@ejinsight.com

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