devaluation :

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devaluation

di val yooh ay shuhn

  • n  an official lowering of a nation's currency; a decrease in the value of a country's currency relative to that of foreign countries
  • n  the reduction of something's value or worth

  • The devaluation of the pound was followed by the equally traumatic devaluation of Harold Wilson and his government.
  • After two years of comparative stability, some European currencies were so shaky last week that devaluation talk again filled the air.
  • The threat of mass labor unrest apparently has leaders laying the groundwork for a major devaluation.
Quotes

  • Andrei Illarionov in International Herald Tribune
    Andrei Illarionov, a former Kremlin adviser and now a government critic, told reporters Monday that "the Central Bank, to safeguard itself, made a decision to start a devaluation, a soft devaluation of the ruble."
  • Steve Odland in Reuters India
    The issue is currency devaluation, and the worry is that it essentially lowers our credibility in the world,said Office Depot Inc CEO Steve Odland in an interview with Reuters on the sidelines of the conference.
  • Brendan Nelson in Sydney Morning Herald
    We do not and will not support any changes to or devaluation of the tradition status of marriage as the foundation, indeed the bedrock of our society,Dr Nelson said. "It may be the consequence (of these bills). Acceptance that people who...

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