TeachMeFinance.com - explain devaluation
devaluation -- The act of a government to lower the fixed exchange
rate of its currency. The government implements a devaluation by announcing
that it will no longer maintain the existing rate by buying and selling
its currency at that rate.
About the author
Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.