From now on, the pound abroad is worth 14 per cent or so less in terms of other currencies. That doesn't mean, of course, that the Pound here in Britain, in your pocket or purse or in your bank, has been devalued.
Fromnowonthepound abroad isworth14 percentorso less in terms of other currencies. That does not mean, of course, thatthepound here in Britaininyour pocket or purse, or in your bankhas been devalued.
In the course of a few weeks the one policy with which the Prime Minister was uniquely and personally associated, the contribution to policy of which he appears to have been most proud, has been blown apart, and with it has gone for ever any claim by the Prime Minister or the party that he leads to economic competence. He is the devalued Prime Minister of a devalued Government.john smith
I devalued the peso solely looking after the poor.augusto pinochet
"…in July 1991… with the announcement of sweeping liberalization by the minority government of P.V. Narasimha Rao… opened the economy… dismantled import controls, lowered customs duties, and devalued the currency… virtually abolished licensing controls on private investment, dropped tax rates, and broke public sector monopolies…. [W]e felt as though our second independence had arrived: we were going to be free from a rapacious and domineering state…"