The People’s Bank of China set the renminbi’s daily midpoint against the US dollar at 6.1073 on Tuesday, 20 pips weaker than the 6.1053 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 0.04 percent and settled at 6.0641 on Monday after trading between 6.0618 and 6.0652 in Shanghai. The redback’s daily midpoint against the US dollar has fallen 0.17 percent this year, central bank data shows.
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