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A fall in the value of a country's currency vis-a-vis other currencies is known as__________

Commerce
JAMB 2019

A fall in the value of a country's currency vis-a-vis other currencies is known as__________

  • A. Depreciation
  • B. Reduction
  • C. Devaluation
  • D. Exchange rate
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Correct Answer: Option C
Explanation

Devaluation is the lowering of the exchange value of a country's currency against other currencies. This makes import to be expensive and import to be more attractive.

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
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