A fall in the value of a country’s currency vis-a-vis other currencies is known as__________
-
A.
Depreciation -
B.
Reduction -
C.
Devaluation -
D.
Exchange rate
Correct Answer: Option C
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.