Devaluation means ?
Correct answer: B. Lowering of the value of one currency in comparison of some foreign currency
- A. Converting rupee into gold
- B. Lowering of the value of one currency in comparison of some foreign currency
- C. Making rupee dearer in comparison to some foreign currency
- D. None of these
Explanation
Devaluation is an official reduction in the value of a currency under a fixed or managed exchange-rate system, relative to foreign currencies. Making the rupee dearer would instead be appreciation or revaluation.
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