The People’s Bank of China set the renminbi’s daily midpoint against the US dollar at 6.1224 on Thursday, 32 pips weaker than the 6.1192 fixing on Wednesday, 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 0.03 percent to 6.1248 on Wednesday after trading between 6.1168 and 6.1351 in Shanghai. The redback’s daily midpoint against the US dollar has fallen 0.42 percent this year, central bank data shows.
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