A sharp appreciation in the renminbi against the dollar in recent days – at a time when most other emerging market currencies have been falling – has prompted traders to ask whether Beijing has adopted an aggressive new stance on its currency.
Over the past four days the renminbi strengthened 0.7 per cent against the dollar – a small move by the standards of most currencies but a large one for the Chinese currency, which is tightly controlled by the government. […]
source and full article via RMB closed at 6.39 against the dollar on Thursday.