Inflation, on the other hand, refers to the value of the currency in goods and services (related to its purchasing power).
In 1931, when the U.K. left the gold standard, Colombia shifted its peg to the U.S. dollar, at a rate of 1.05 pesos = 1 dollar, a slight devaluation from its previous peg.
When it became apparent that the valuation of M2 exceeded the supply of M1, a panic ensued to convert M2 to M1, resulting in the rapid apparent devaluation of M2, and the Wall Street Crash of 1929.
Overspending on the Trans-Gabon (Transgabonais) Railway, the oil price of 1986, and the franc CFA devaluation of 1994 have caused debt problems.
The inaugural edition of the newspaper, on June 13, 2009, included articles entitled "Tourism grows", "US Senator moots new approach to Fiji", "Support for Peoples Charter expands", "Govt to improve services", and "Devaluation positive".
His reasoning is that the gains from a devaluation of the Greek drachma would be offset by the corresponding increase in the relative value of the outstanding debt in Euro (issued before the currency switch), whether public of private.
Gregory Dale Hawkins was a trader and principal in the hedge fund Long-Term Capital Management that after four spectacularly successful years lost most of its clients' money in 1998 when the Russian government defaulted on its debt payments on August 17, 1998, triggering a devaluation of the Russian ruble.
Sultan al-Mu'ayyad's reign was plagued by troubles: the Bubonic plague, currency devaluation, and rebellious bedouins all disturbed his reign.
This related to the devaluation of the North Korean won in November 2009, which led to a crisis after rendering valueless many people's savings.
At a campaign meeting in Sundsvall on 22 August, Minister of Social Welfare Sten Andersson promised to increase the state pensions as a compensation for the price increases following the devaluation of the krona in 1982.