Question

What was the main objective of devaluation?

Answer 1

Almost all the countries of the world have devalued their currencies time to time to achieve certain economic objective. During great depression of 1930 most of the countries devalued their currencies. Devaluation policy is adopted to increase the exports of the country.

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Answer 2

Devaluation is the reduction in the domestic currency in comparison with the foreign currencies. Devaluation is adopted everywhere in the world economy aiming at the realization of economic goals in a specific period of time say ten years.