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Question

‘Devaluation’ means :

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