The People’s Bank of China set the renminbi’s daily midpoint against the US dollar at 6.1189 on Monday, according to the China Foreign Exchange Trade System. The reference rate is 13 pips weaker than the 6.1176 fixing on Friday. The renminbi is allowed to rise or fall 1 percent from the daily reference rate. Spot renminbi eased 0.14 percent to 6.0919 on Friday after trading between 6.0843 and 6.0930 in Shanghai. The redback’s daily midpoint against the US dollar has fallen 0.36 percent this year, central bank data shows.
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