Which one of the following statements is the most accurate?

A devaluation occurs when the central bank lowers the domestic currency price of foreign currency, E, and a revaluation occurs when the central bank raises E.

A devaluation occurs when the central bank raises the domestic currency price of foreign currency, E, and a revaluation occurs when the central bank lowers E.

Devaluation occurs when the domestic currency price of foreign currency, E, is raised, and a revaluation occurs when E is lower

None of these