The People’s Bank of China set the renminbi’s daily midpoint against the US dollar at 6.1312 on Monday, 111 pips weaker than the 6.1201 fixing on Friday, 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 0.16 percent to 6.1280 on Friday after trading between 6.1000 and 6.1285 in Shanghai. The redback’s daily midpoint against the US dollar has fallen 0.56 percent this year, central bank data shows.
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