The reduction in the value of a country's currency in relation to others is?
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Correct Answer: Option B
Explanation:
A devaluation is an official lowering of the value of a country's currencywithin a fixed exchange rate system, by which the monetary authority formally sets a new fixed rate with respect to a foreign reference currency or currencybasket.
A devaluation is an official lowering of the value of a country's currencywithin a fixed exchange rate system, by which the monetary authority formally sets a new fixed rate with respect to a foreign reference currency or currencybasket.