The country of Cloden witnesses a major economic downfall in its current financial year because of monetary losses in the nation's major business sectors. This economic decline, in turn, causes a decrease in the value of the nation's currency relative to that of other nations'. In the context of the foreign exchange market, the decrease in Cloden's currency value is referred to as _____.

Question

Quizplus · Accepted Answer

Depreciation is the correct term for a decrease in a currency's value relative to other currencies in the foreign exchange market, often due to economic downturns or monetary losses in major sectors.

The Country of Cloden Witnesses a Major Economic Downfall in Its