Question on: JAMB Economics - 2018

The reduction in the value of a country’s currency in relation to the value of the currencies of other nation is known as____________

A
Deflation
B
Inflation
C
Devaluation
D
Revaluation
Ask EduPadi AI for a detailed answer
Correct Option: C

Devaluation is the reduction in the official value of a currency in relation to other currencies.

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