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English definition of “devalue”

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devalue

verb uk   /ˌdiːˈvæl.juː/ us  

devalue verb (MONEY)

[I or T] to reduce the rate at which money can be exchanged for foreign money: Last year Mexico was forced to devalue the peso.

devalue verb (NOT VALUE)

[T] to cause someone or something to be considered less valuable or important: I don't want to devalue his achievement, but he managed to get a promotion without working very hard.
devaluation
noun [C or U] uk   /ˌdiː.væl.juˈeɪ.ʃən/ us  
The devaluation of the dollar had a strong effect on the financial markets.
(Definition of devalue from the Cambridge Advanced Learners Dictionary & Thesaurus © Cambridge University Press)
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