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English definition of “devalue”

devalue

verb [I or T] (MONEY)    /ˌdiːˈvæl.juː/
to reduce the rate at which money can be exchanged for foreign money : Last year Mexico was forced to devalue the peso .Value and price decreases devaluation     /ˌdiː.væl.juˈeɪ.ʃən/ noun [C or U] The devaluation of the dollar had a strong effect on the financial markets .Value and price decreases
(Definition of devalue verb (MONEY) from the Cambridge Advanced Learner's Dictionary & Thesaurus © Cambridge University Press)
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