| Assertion [A] Under fixed exchange rate system, country's government is responsible for changing the price of foreign exchange as per the developmental needs. |
| Reason [R] Increase in the value of domestic currency as planned by the central bank is revaluation of domestic currency. |
A) Assertion [A] is true and Reason [R] is a correct reason.
B) Assertion [A] is true and Reason [R] is not a correct reason.
C) Assertion [A] is false, Reason [R] is true
D) Both are false.
Correct Answer: B
Solution :
Under the fixed exchange rate system, it is the responsibility of government to maintain and change the price of foreign currency.
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