Home > Terms > English, UK (UE) > Devaluation
Devaluation
Reduction in the value of a nation's currency in relation to other currencies. Devaluation usually takes place because of an emergency, such as a balance of payments deficit in which the value of a country's imports is far greater than the value of its exports. Devaluation has the effect of boosting exports (because they are cheaper in terms of foreign currencies) and reducing imports (because they are more expensive in terms of foreign currencies).
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