The People’s Bank of China set the renminbi’s daily midpoint against the US dollar at 6.1201 on Friday, 48 pips stronger than the 6.1249 fixing on Thursday, 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 0.15 percent to 6.1092 on Thursday after trading between 6.1000 and 6.1200 in Shanghai. The redback’s daily midpoint against the US dollar has fallen 0.38 percent this year, central bank data shows.
– Contact HKEJ at [email protected]