devaluation

de·val·u·a·tion

noun \(ˌ)dē-ˌval-yə-ˈwā-shən, -yü-ˈā-\

Definition of DEVALUATION

1

: an official reduction in the exchange value of a currency by a lowering of its gold equivalency or its value relative to another currency

2

: a lessening especially of status or stature : decline

First Known Use of DEVALUATION

1914

Rhymes with DEVALUATION

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devaluation

noun    (Concise Encyclopedia)

Reduction in the exchange value of a country's monetary unit in terms of gold, silver, or foreign currency. By decreasing the price of the home country's exports abroad and increasing the price of imports in the home country, devaluation encourages the home country's export sales and discourages expenditures on imports, thus improving its balance of payments.