Contractionary monetary policy,assuming demand for the currency stays constant,tends to result in:

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Contractionary monetary policy typically involves raising interest rates or reducing the supply of money in an economy, which can make the currency more attractive to investors due to higher returns on investments denominated in that currency. This increased demand for the currency, even if the initial demand stays constant, can lead to currency appreciation.

Contractionary Monetary Policy,assuming Demand for the Currency Stays Constant,tends to Result