'devaluing' is correct and usable in written English.
It is a verb and means to reduce the value of something or to cause it to be seen as less important. For example, "The company's recent decision to outsource production to a cheaper supplier has been seen by many analysts as a way of devaluing their commitment to quality."
The main difference between the two systems is that the option of devaluation is easier in a currency board arrangement (devaluing in a euroised economy would require a new national currency to be set up).
The more relevant factor, however, as Higgins states, has been the government's sustained attacks on public arts funding (down £83m since 2010), and music education in particular, while it has systematically undermined the very sources of future audiences – for both music and theatre – through its Department for Education's devaluing of studies in the arts and humanities.
In late 2001 the Argentine government curtailed bank withdrawals and foreign-exchange transactions, a programme dubbed the corralito ("little fence"), before devaluing the peso substantially.The corralito ended in 2002 and Argentina enjoyed several years of strong economic growth.
In a Bello column on Venezuela ("Devaluing the Bolivarian Revolution", June 21st) we stated that during months of opposition protests "more than 40 people have been killed, most of them by government agents".
To be fair, the Nordic nations had a significant advantage: their tiny size made it easy for them to earn large current account surpluses after devaluing their currencies.
Not far into the new year, Argentina did the only thing it arguably could: broke the peg to the dollar, devaluing the peso, and defaulted on its international debt obligations.This left its banking system in something of a pickle.
Cubans rushed to convert their savings.See articleArgentina's Supreme Court backed the government's 2002 decision to convert dollars in bank accounts to pesos at one to two after devaluing the peso.
Devaluing the rouble in one go would be more helpful right now, Mr MacFarquhar argues, but it is politically impossible because the government (especially Vladimir Putin, the prime minister) has staked so much of its reputation on preserving a strong currency.
But the gravest danger to the NPT is the devaluing of security assurances of the kind provided to Ukraine by Russia, France and Britain under the 1994 Budapest Memorandum when it gave up nuclear weapons it had inherited after the dissolution of the Soviet Union.
But Argentina may not have enough dollar reserves to replace the pesos in circulation without first devaluing.
There is some truth in this, but the awkward fact is that post-bubble economies tend to be deflation-prone.Even with interest rates at zero, Japan might have escaped deflation two years ago, when the American economy was strong, by devaluing the yen.
