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Devaluation of a currency means | |
A. | reduction in the value of a currency vis-a-vis major internationally traded currencies [Correct Answer] |
B. | permitting the currency to seek its worth in the international market [Wrong Answer] |
C. | fixing the value of the currency in conjunction with the movement in the value of a basket of pre-determined currencies [Wrong Answer] |
D. | fixing the value of currency in multilateral consultation with the IMF, the World Bank and major trading partners [Wrong Answer] |