Meaning of “devaluation” in the English Dictionary

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"devaluation" in Business English

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devaluationnoun [ C or U ]

uk /ˌdiːvæljuˈeɪʃən/ us FINANCE, ECONOMICS

a reduction in the value of a currency compared to others:

The devaluation of the dollar had a strong effect on the financial markets.
Currency devaluation has inflationary consequences.

(Definition of “devaluation” from the Cambridge Business English Dictionary © Cambridge University Press)