When in order to buy 1 US dollar ₹ 65 are needed instead of ₹ 60 earlier, domestic currency shows appreciation. (True/ False)
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False.Explanation:
Here, domestic currency shows depreciation because more rupees are to be paid to buy one US dollar. Depreciation of the domestic currency implies a fall in the value of domestic currency in relation to a foreign currency.
Here, domestic currency shows depreciation because more rupees are to be paid to buy one US dollar. Depreciation of the domestic currency implies a fall in the value of domestic currency in relation to a foreign currency.
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