Discussion
Devaluation of a currency means
Answer: A
Devaluation is a reduction in the value of a currency against major international currencies.
It is a deliberate act by the authorities under a fixed or managed exchange rate, and it makes exports cheaper abroad and imports dearer at home. India devalued in 1949, 1966 and 1991. A market-driven fall is called depreciation, not devaluation.
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