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A monetary authority (e.g., a central bank) maintains a fixed value of its currency by being ready to buy or sell foreign currency with the domestic currency at a stated rate; a devaluation is an indication that the monetary authority will buy and sell foreign currency at a lower rate.
Currency depreciation is the loss of value of a country's currency with respect to one or more foreign reference currencies, typically in a floating exchange rate system in which no official currency value is maintained. Currency appreciation in the same context is an increase in the value
Weidmann held the view that interventions during the 2009-11 period were not intense enough to count as competitive devaluation, but that a genuine currency war is now a real possibility. Japan's economy minister Akira Amari has said that the Bank of Japan's bond buying programme is intended to combat deflation, and not to weaken the yen. Most ...
Brazilian Finance Minister Guido Mantega, who made headlines when he raised the alarm about a currency war in September 2010. Currency war, also known as competitive devaluations, is a condition in international affairs where countries seek to gain a trade advantage over other countries by causing the exchange rate of their currency to fall in relation to other currencies.
The devaluation of sterling in 1949 (or 1949 sterling crisis) was a major currency crisis in the United Kingdom that led to a 30.5% devaluation of sterling from $4.04 per pound to $2.80 on 18 September 1949. [1] [2] Although the devaluation was made in the United Kingdom, over 19 countries had currencies pegged to sterling and also devalued.
The Plaza Accord was a joint agreement signed on September 22, 1985, at the Plaza Hotel in New York City, between France, West Germany, Japan, the United Kingdom, and the United States, to depreciate the U.S. dollar in relation to the French franc, the German Deutsche Mark, the Japanese yen and the British pound sterling by intervening in currency markets.
USD/MXN exchange rate Mexico inflation rate 1970-2022. The Mexican peso crisis was a currency crisis sparked by the Mexican government's sudden devaluation of the peso against the U.S. dollar in December 1994, which became one of the first international financial crises ignited by capital flight.
According to Ben Tamari, the currency devaluation phenomenon was already recognized in ancient sources. [9] He brings some examples which include the Machpela Cave transaction [10] and the building of the Temple [11] from the Bible and the Mishna in tractate Bava Metzia (Bava Metzia 4:1) from the Talmud. [9]