The People’s Bank of China set the renminbi’s daily midpoint against the US dollar at 6.1053 on Monday, according to the China Foreign Exchange Trade System. The reference rate is 17 pips firmer than the 6.1070 fixing on Friday. The renminbi is allowed to rise or fall 1 percent from the daily reference rate. Spot renminbi eased 0.05 percent to 6.0668 on Friday after trading between 6.0613 and 6.0672 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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