Economy UPPSC 1998 GS-I
Question

Devaluation of currency means:

Answer & Solution

Answer: (Detailed Solution Below)

Option A: Reduction in the value of a currency vis-a-vis major internationally traded currencies

Detailed Solution:

The correct answer is “Reduction in the value of a currency vis-a-vis major internationally traded currencies”.

Devaluation of currency specifically refers to the deliberate reduction in the value of a country's currency relative to other major internationally traded currencies. This action is usually taken by a government or central bank and is a monetary policy tool used to address trade imbalances, improve export competitiveness, or respond to other economic factors.

Similar Questions:

Uttar Pradesh recorded the highest decadal growth rate of population during:
  1. 1951-61
  2. 1961-71
  3. 1971-81
  4. 1981-91
Which one of the following is NOT a method to control inflation?
  1. Controlling the demand
  2. Controlling the supply of money
  3. Reducing the rate of interest
  4. Rationing of commodities
Which of the following committees was set up in India for identification of BPL families in Urban Areas?
  1. Tendulkar Committee
  2. Saxena Committee
  3. Lakdawala Committee
  4. Hashim Committee
Mixed economy means:
  1. Where agriculture and industry are given equal importance
  2. Where public sector exists along with heavy doses of swadeshi in national economy.
  3. Where globalization is transferred with heavy dose of swadeshi in national economy.
  4. Mixed Economy means where public sector exists along with the private sector in national economy.
Consider the following statements about the Fundamental Rights in India:

1. They are a guarantee against state action
2. They are enumerated in Part II of the Constitution
3. They ensure social, economic and political justice
4. They are unlike bill of Rights in the U.S.A.

Now, select the correct answer from the codes given below:
Codes:
  1. 1 and 2 are correct
  2. Only 1 is correct
  3. 1, 2 and 3 are correct
  4. 2, 3 and 4 are correct
Given below are two statements, one is labelled as Assertion (A) and the other as Reason (R).

Assertion (A): The labour force participation rate failing sharply in the recent years for females in India.
Reason (R): The decline in labour force participation rate is due to the improved family income and increase in education.

Select the correct answer from codes given below:
Codes:
  1. Both (A) and (R) are true and (R) is the correct explanation of (A)
  2. Both (A) and (R) are true and (R) is not the correct explanation of (A)
  3. (A) is true, but (R) is false
  4. (A) is false, but (R) is true
For regulation of the Insurance Trade in the country the Government has formed:
  1. SEBI
  2. Reserve Bank of India
  3. Insurance Regulatory and Development Authority
  4. General Insurance Corporation
Name the place where Thyagaraja Aradhana festival is regularly held to pay homage to song composer Sri Thyagaraja:
  1. Adyar
  2. Thanjavur
  3. Mammalpuram
  4. Udipi
Who among the following was the leader of the revolt during 1857 at Bareilly?
  1. Khan Bahadur
  2. Kunwar Singh
  3. Maulvi Ahmad Shah
  4. Birjis Qadir
How many triangles are there in the above figure?
  1. 12
  2. 8
  3. 16
  4. 15
Which among the following organisations are responsible for canalising export and import of India?

I. Mineral and Metal Trading Corporation
II. Exim Bank
III. State Trading Corporation
IV. Food Corporation of India

Select the correct answer from the code given below:

Code:
  1. I, II, III, and IV
  2. II and IV
  3. I and III
  4. II, III and IV
The earliest evidence of the use of iron in India has been discovered from:
  1. Taxila
  2. Ataranji Khera
  3. Kaushambi
  4. Hastinapur