A reduction in the value of a country's currency in relation to that of other...
COMMERCE
WAEC 2023
A reduction in the value of a country's currency in relation to that of other countries is
- A. revaluation
- B. inflation
- C. devaluation
- D. deflation
Correct Answer: C. devaluation
Explanation
Devaluation is the reduction in the value of the country's currency in terms of other currencies of the world. It is also a fall in the exchange value of a country's currency in relation to the currencies of other currencies.
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