Since China adopted a "managed float" of the renminbi (RMB) in 2005, the RMB has appreciated in real terms by over 20 per cent against the U.S. dollar.
Still, politicians and economists in the U.S. say China is guilty of "currency manipulation" and say the RMB remains artificially undervalued.
The U.S. Senate on Thursday voted to push a bill which will impose punitive tariffs on China for allegedly manipulating the RMB exchange rate to gain unfair trade advantage.


U.S. tensions rise over China's currency policy - CNN.com
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Since China adopted a "managed float" of the renminbi (RMB) in 2005, the RMB has appreciated in real terms by over 20 per cent against the U.S. dollar.

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