Question
EconomyExternal Sector and International EconomicsExchange Rates and Currency ManagementMedium (editorial estimate)
Question details
- Type:
- Statement based
- Skill:
- Concept understanding
- Tags:
- currency devaluation · Exchange Rates and Currency Management
- Related topics:
- Foreign Trade, Trade Policy and WTO
Classification and difficulty are editorial labels. Explanations are awaiting review.
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Consider the following statements: The effect of devaluation of a currency is that it necessarily 1. improves the competitiveness of the domestic exports in the foreign markets 2. increases the foreign value of domestic currency 3. improves the trade balance Which of the above statements is/are correct?
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Question 8 · Exchange Rates and Currency Management · Economy · UPSC Prelims 2021 (GS)