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Devaluation

The depreciation of the national currency, or in other words, the rate decline in relation to foreign currencies and gold. For example, in Britain in September 1992 raising interest rates in the situation of stagnation in the economy were the reason for the devaluation of the pound. On September 16 the pound lost 2.7% against the Mark and by the evening was traded in New York at 2.703.

News On Devaluation
Strong support seen for rupee at 60.50 per dollar  

24-03-2014| Source:CNBC-TV18

The rupee saw strength on Friday, ending at 60.89/USD levels. Infact it has been a rank outperformer. Last week was rather cruel to Asian currencies partly because of yuan devaluation or what you can

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