Question

What do you mean by devaluation of rupee

Answer 1

Devaluation of Rupee refers to the fall in the value of rupee in terms of foreign currency. Specifically, it implies deliberate official lowering of the value of the country's currency with respect to the foreign currency. It means that now (after devaluation) one US$ can be exchanged for more rupees.

Answer 2

The term devaluation is used when the government reduces the value of a currency under Fixed Rate System...