an official lowering of the exchange value of a country's currency relative to gold or other currencies.
a reduction of a value, status, etc.

1910–15; devaluate + -ion

minidevaluation, noun
postdevaluation, adjective
predevaluation, noun, adjective Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
devaluation (diːˌvæljuːˈeɪʃən)
1.  Compare depreciation a decrease in the exchange value of a currency against gold or other currencies, brought about by a government
2.  a reduction in value, status, importance, etc

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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Word Origin & History

1898, from de- + valuation. Specific application to currency is from 1914.
Online Etymology Dictionary, © 2010 Douglas Harper
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American Heritage
Cultural Dictionary

devaluation definition

A policy undertaken by a nation to reduce the value of its national currency either in relation to gold or in relation to the currencies of other nations.

The American Heritage® New Dictionary of Cultural Literacy, Third Edition
Copyright © 2005 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
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Example sentences
Paying this debt off in today's dollars is inconceivable without devaluation.
Being seen on television could cut against that nagging sense of devaluation.
Devaluation does nothing but boost exports by making them cheaper, which any
  business can do by simply reducing prices.
With all risk of devaluation apparently removed, capital poured in from abroad.
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