Arrange the following steps of exchange rate channel of monetary transmission mechanism, in correct order, starting from first to last.
(A) reduction in policy rate
(B) capital outflows
(C) depreciation of domestic currency
(D) rise in net exports
Choose the correct answer from the options given below:
1
(A), (C), (D), (B)
2
(A), (D), (B), (C)
3
(A), (B), (C), (D)
4
(A), (D), (C), (B)