The reduction in the value of a country’s currency ...
The reduction in the value of a country’s currency in relation to the value of the currencies of other nation is known as___________
Deflation
Inflation
Devaluation
Revaluation
Correct answer is C
Devaluation is the official reduction of the exchange value of national currency in relation to the currencies of other countries. It is also the fall in the exchange value of a country's currency in relation to the currencies of other countries.
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