Definition

A decrease in the value of a currency compared to others, often set by a government or central bank, which can also refer to a reduction in status or importance.

Example

The country's devaluation of its currency led to higher prices for imported goods.

Conversation

Did you hear about the recent devaluation of the currency?

Yeah, it's causing a lot of economic issues right now.

It's surprising how a devaluation can affect people's daily lives.

Absolutely, it makes everything from groceries to rent more expensive.

Synonyms & Antonyms

Root Explanation

Devaluation → It is formed from "de-" (meaning down or away) and "valere" (meaning to be strong or to be worth). The word describes the act of reducing the value or worth of something, particularly in economic terms.

Memory Tip

Think of 'de-' meaning down and 'valere' meaning worth — this helps you remember that devaluation means to reduce worth.

Visually Confused Words