Economics · International Economics
What does the term 'Devaluation' of a currency precisely mean in economics?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1A permanent reduction in the domestic purchasing power
- 2A market-driven floating depreciation of the currency
- 3Official increase in the external value of a domestic currency
- 4Official reduction in the external value of a domestic currency✓
Correct answer
Official reduction in the external value of a domestic currency
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