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Concept information

... > social science subjects > business and management > international business > international finance > international monetary system > devaluation
... > social science subjects > business and management > finance > international finance > international monetary system > devaluation
... > social science subjects > business and management > finance > monetary systems > international monetary system > devaluation
... > social science subjects > economics > macroeconomics > monetary theory > monetary systems > international monetary system > devaluation

Preferred term

devaluation  

Definition

  • Devaluation occurs when a government or its central bank reduces the official price at which its currency can be bought on the foreign exchange (Forex) market. For example, suppose that the current $/£ exchange rate was 2:1, meaning that two USD had to be given up for each 1GBP or, equivalently, that 1GBP was worth 2 USD. If the GBP were devalued, this would mean that fewer USD had to be exchanged for each GBP, meaning that GBP had become cheaper in dollar terms. [Source: Encyclopedia of Business in Today's World; Devaluation]

Broader concept

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URI

http://data.loterre.fr/ark:/67375/N9J-TK0L9QHS-5

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