Step 1: Understand the concept of foreign exchange rate
The foreign exchange rate is the price of one currency in terms of another currency、An increase in the foreign exchange rate means that the foreign currency is becoming more expensive in terms of the domestic currency.

Step 2: Determine the effect of an increase in foreign exchange rate on the domestic currency
If the foreign exchange rate increases, it means that more units of the domestic currency are required to buy one unit of the foreign currency、This implies that the domestic currency is depreciating or losing value relative to the foreign currency.

Step 3: Apply the concept to the given scenario
In the context of the Chinese yuan (RMB) and foreign currencies, an increase in the foreign exchange rate means that the RMB is depreciating、Therefore, when the foreign exchange rate rises, the RMB is actually depreciating or 贬值 (devaluing).

The final answer is: 贬值 (devaluing)