The People’s Bank of China set the renminbi’s daily midpoint against the US dollar at 6.1249 on Thursday, 8 pips stronger than the 6.1257 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 0.24 percent to 6.1282 on Wednesday after trading between 6.1179 and 6.1505 in Shanghai. The redback’s daily midpoint against the US dollar has fallen 0.46 percent this year, central bank data shows.
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