The People’s Bank of China set the renminbi’s daily midpoint against the US dollar at 6.1343 Wednesday, 16 pips weaker than the 6.1327 fixing on Tuesday, according to the China Foreign Exchange Trade System. The renminbi is allowed to rise or fall one percent from the daily reference rate. Spot renminbi eased 0.03 percent to 6.1402 on Tuesday after trading between 6.1317 and 6.1418 in Shanghai. The redback’s daily midpoint against the US dollar has fallen 0.61 percent this year, central bank data shows.
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