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Q. ‘Devaluation’ means :

  • (A) reduction in the value of a currency vis-a-vis major internationally traded currencies
  • (B) permitting the currency to seek its worth in the international market
  • (C) fixing the value of the currency in conjunction with the movement in the value of a basket of pre-determined currencies
  • (D) fixing the value of currency in multilateral consultation with the IMF, the World Bank and major trading partners
  • Correct Answer - Option(A)
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