The reduction in the value of a country's currency in relation to others is?
A.
re denomination
B.
devaluation
C.
inflation
D.
deflation
Correct Answer: Option B
Explanation
A devaluation is an official lowering of the value of a country's currencywithin a fixed exchange rate system, by which the monetary authority formally sets a new fixed rate with respect to a foreign reference currency or currencybasket.
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