A fall in the value of a country's currency vis-a-vis other currencies is known as____________
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Correct Answer: Option C
Explanation:
Devaluation is an official reduction in the value of a country's currency relative to other currencies under a fixed or managed exchange-rate system. It makes imports more expensive and can make the country's exports relatively cheaper to foreign buyers.
Devaluation is an official reduction in the value of a country's currency relative to other currencies under a fixed or managed exchange-rate system. It makes imports more expensive and can make the country's exports relatively cheaper to foreign buyers.