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Meaning of Devaluation of a currency is

  • A.reduction in the value of a currency vis-a-vis major internationally traded currencies
  • B.permitting the currency to seek its worth in the international market
  • C.fixing the value of the currency in conjunction with the movement in the value of a basket of pre-determined currencies
  • D.fixing the value of currency in multilateral consultation with the IMF, the World Bank and major trading partners

Answer: A

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