An abrupt depreciation of a currency whose value was fixed or managed by the government is referred to as

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Devaluation refers to a sudden decrease in the value of a currency that was previously fixed or managed by the government. This typically occurs when the government decides to reduce the value of its currency relative to others in the foreign exchange market. Revaluation, on the other hand, refers to an increase in the currency's value, while appreciation refers to a gradual increase in the currency's value over time.

An Abrupt Depreciation of a Currency Whose Value Was Fixed