currency devaluation 英英释义

Devaluation of a currency is a deliberate downward adjustment in the exchange rate of a currency relative to other currencies. It is usually done by the government or central bank of the country. Devaluation occurs when a government or central bank revalues its existing currency at a lower rate than before. This typically leads to an increase in the price of imports and a decrease in the price of exports, which can have both positive and negative effects on an economy.