| 单词 | devaluation |
| 释义 | devaluation devaluation A reduction in the value of a currency relative to gold or to other currencies. Governments engage in devaluation when they feel that their currency has become overvalued, for example through high rates of inflation making exports uncompetitive or because of a substantially adverse balance of trade. The intention is that devaluation will make exports cheaper and imports dearer, although the loss of confidence in an economy forced to devalue invariably has an adverse effect. Devaluation is a measure that need only concern governments with a fixed exchange rate for their currency. With a floating exchange rate, devaluation or revaluation takes place continuously and automatically (seedepreciation; revaluation of currency). |
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