JAMB - Commerce (2019 - No. 25)
A fall in the value of a country's currency vis-a-vis other currencies is known as__________
Depreciation
Reduction
Devaluation
Exchange rate
स्पष्टीकरण
Devaluation is the lowering of the exchange value of a country's currency against other currencies. This makes import to be expensive and import to be more attractive.