Changes the name of an existing folder, requires Read-Write permission.
The oldName and newName parameters must both be simple names, and not path names. The oldName argument must name an existing subfolder of the current Folder object, and after the operation completes, the folder name changes but the folder remains a subfolder of the same parent folder. You cannot use the this method to move folders from one location to another.
VBScript
folder.RenameFolder oldName, newName
Perl
$folder->RenameFolder(oldName, newName);