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Title: Peter Schiff CNBC 10-01-07 View count: 4810 Rating: 5.0 (22 ratings) Description: Devaluation is a reduction in the value of a currency with respect to other monetary units. In common modern usage, it specifically implies an official lowering of the value of a country's currency within a fixed exchange rate system, by which the monetary authority formally sets a new fixed rate with respect to a foreign reference currency. In contrast, (currency) depreciation is most often used for the unofficial decrease in the exchange rate in a floating exchange rate system. The opposite of devaluation is called revaluation. Tags: peter, schiff, stock, market, dollar, crash, devaluation, Author: donaldsonb |
