A fall in the value of a country’s currency vis-a-vis other currencies is known as?

By: |Published on: Jan 8|Categories: Commerce WAEC| 0 comments

A. Depreciation
B. Reduction
C. Devaluation
D. Exchange rate

Correct Answer: Option C

C. Devaluation

Explanation

Devaluation is the lowering of the exchange value of a country’s currency against other currencies. This makes import to be expensive and import to be more attractive.

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