1. reductions in the official value of a currency in relation to other currencies
Usage: economics; finance
2. decreases in the worth, importance, or perceived value of something

Examples

• The country experienced several currency devaluations during the economic crisis.
• Devaluations of the peso made exports more competitive but increased import costs.
• The government announced devaluations to boost tourism and manufacturing.
• These devaluations of traditional skills concern many educators.
• The company’s repeated devaluations of employee contributions hurt morale.
• Historical devaluations often followed periods of high inflation.
• The devaluations affected international trade relationships significantly.