The People’s Bank of China set the renminbi’s daily midpoint against the US dollar at 6.1236 on Tuesday, 46 pips weaker than the 6.1190 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 eased 0.14 percent and settled at 6.1550 on Monday after trading between 6.1524 and 6.1579 in Shanghai. The redback’s daily midpoint against the US dollar has fallen 0.44 percent this year, central bank data shows.
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