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Open Economy Macroeconomics — Economics STD 12 Humanities & Commerce — Question

Rajasthan BoardEnglish MediumSTD 12 Humanities & CommerceEconomicsOpen Economy Macroeconomics1 Mark
Question
What is 'devaluation'?
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Answer

Devaluation is said to occur when the exchange rate is increased by the official action (government) under fixed exchange rate system.

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