Devaluation is majorly done to
(A) encourage export
(B) encourage import
(C) discourage import
(D) To encourage both export and import
Correct Answer : encourage export
Question Asked : SSC CAPFs ASI & Delhi Police SI Exam 2017
Explanation : Devaluation refers' to the official lowering of the value of a country's currency relative to another currency, group of currencies or standard, by which the monetary authority formally sets a new fixed rate. It causes a country's exports to become less expensive, making them more competitive in the global market.
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Tags : macroeconomics
