Currency Devaluation - SS3 Economics Past Questions and Answers - page 1
What is currency devaluation?
An increase in the value of a country's currency
A decrease in the value of a country's currency
A change in the exchange rate of a country's currency
Why do governments devalue their currency?
To reduce inflation
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To make imports cheaper
To make exports more competitive
What are some negative effects of currency devaluation?
Increased exports
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Higher inflation
Lower trade deficit
When was the most recent currency devaluation in Nigeria?
 2018
2020
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2022
What is the purpose of currency devaluation in Nigeria?
To make imports cheaper
To make exports more competitive
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To reduce inflation
What is the impact of currency devaluation on a country's exports?
What is the potential negative impact of currency devaluation on a country's economy?
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