JAMB - Economics (2023 - No. 27)
A ............ in the price of the domestic currency in terms of a foreign currency is referred to as .............
Decrease, appreciation
Increase, de-appreciation
Decrease, depreciation
Increase, consolidation
Explanation
Currency depreciation is a fall in the value of a currency in a floating exchange rate system. Therefore, a decrease in the price of the domestic currency in terms of a foreign currency is referred to as depreciation.
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