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WAEC Commerce 2015 Question 27

Question 27

Foreign Trade

The reduction in value of a country's currency in relation to others is.

  1. A.redenomination.
  2. B.devaluation.
  3. C.inflation.
  4. D.deflation.
Show the answer and explanation

Answer: B (devaluation.)

Explanation

Devaluation officially lowers the value of a currency against other currencies.