DevaluationDevaluation is reduction of nominal value of a currency. This is usually done because of hyperinflation. In a system of fixed currency exchange rates, the currencies can be realigned by devaluation and upward revaluation. See also inflation |
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"Each problem that I solved became a rule which served afterwards to solve other problems." - Rene Descartes (1596-1650), "Discours de la Methode" |
