Encyclopedia - Business/Economics Category

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devaluation

devaluation extract from Britannica Online.

Reduction in the exchange value of a country's monetary unit in terms of gold, silver, or foreign currency. By decreasing the price of the home country's exports abroad and increasing the price of imports in the home country, devaluation encourages the home country's export sales and discourages expenditures on imports, thus improving its balance of payments.

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