A reduction of the value of a nation's currency relative to the currencies of other countries is called a currency devaluation.

Name: A reduction of the value of a nation's currency relative to the currencies of other countries is called a currency devaluation.
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Question

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This statement is true. A devaluation occurs when a nation's currency loses value compared to other currencies, leading to a decrease in its exchange rate.

A Reduction of the Value of a Nation's Currency Relative