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What is 'Devaluation'? - Economics

What is 'devaluation'?

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Solution

Devaluation means a reduction in the price of domestic currency related to all foreign currencies in a fixed exchange rate system.

Concept: Concept of Foreign Exchange Rate
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2013-2014 (March) Delhi Set 3
Q 19
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2013-2014 (March) Delhi Set 3 (with solutions)
Q 19 | 1 mark
2013-2014 (March) Foreign Set 2 (with solutions)
Q 18 | 1 mark
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