The People’s Bank of China set the renminbi’s daily midpoint against the US dollar at 6.1190 on Monday, according to the China Foreign Exchange Trade System. The reference rate is 24 pips stronger than the 6.1214 fixing on Friday. The renminbi is allowed to rise or fall 1 percent from the daily reference rate. Spot renminbi eased 0.27 percent to 6.1450 on Friday after trading between 6.1275 and 6.1808 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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