Correct Answer: To reduce the value of its currency

Solution : The correct answer is c) To reduce the value of its currency

The primary objective of a country when it undertakes currency devaluation is to reduce the value of its currency relative to other currencies. Currency devaluation is a deliberate policy action taken by a country's government or central bank to intentionally lower the exchange rate of its currency.

By devaluing its currency, a country aims to make its exports more competitive in international markets. A lower currency value means that the country's goods and services become relatively cheaper for foreign buyers. This can lead to an increase in export volumes and potentially stimulate economic growth.

Additionally, currency devaluation can also make imports more expensive, which can discourage imports and promote domestic consumption and production. It can also help address trade imbalances, as a lower currency value may make imports relatively more expensive and encourage domestic production and consumption.

It's important to note that currency devaluation can have various economic and social implications, and its effectiveness and consequences depend on a range of factors such as the country's economic structure, trade relationships, and policy coordination.