The UK's forced withdrawal from the ERM was succeeded by a partial economic recovery with a new policy of flexible exchange rates, allowing lower interest rates and devaluation – increased demand for UK goods in export markets.

A bright spot in 1999 was the recovery of international petroleum prices, which, combined with a well-timed tenge devaluation and a bumper grain harvest, pulled the economy out of recession.

The International Monetary Fund suggested a devaluation of Latvia's currency, but the European Union objected to this, on the grounds that the majority of Latvia's debt was denominated in foreign currencies.

However, by 2010 there were indications that Latvia's policy of internal devaluation was successful.

Occasionally, devaluation was used, 60 % in total between 1975 and 1990, allowing the currency to more closely follow the depreciating US dollar than the rising German mark.

In 1991, markka was pegged to the currency basket ECU, but the peg had to be withdrawn after two months with a devaluation of 12 %.

This tendency toward devaluation of art has led many to claim that Dada was an essentially nihilistic movement.

This reform began with a 50 % devaluation of Senegal's currency, the CFA franc, which was linked at a fixed rate to the French franc.

Batlle's five-year term was marked by economic recession and uncertainty, first with the 1999 devaluation of the Brazilian real, then with the outbreaks of foot-and-mouth disease ( aftosa ) in Uruguay's key beef sector in 2001, and finally with the political and economic collapse of Argentina.

Following the silver devaluation of 1873, the yen devalued against the US dollar and the Canadian dollar units since they adhered to a gold standard, and by the year 1897 the yen was worth only about US $ 0. 50.

While Italy experienced continuous economic progress in the 1980s, the Italian economy was being undermined by constant devaluation of the Italian lira and the issuing of excessive amounts of high-interest treasury bonds, so that, between 1982 and 1992, the excessive budget deficit build half of the deficit still plaguing the country today.

His reduction of the denarius during his rule was the largest since the empire's first devaluation during Nero's reign.

One of the principles of the government's prices and incomes policy was that low-paid workers would be given special consideration, and between 1965 and 1969 the earnings of the lowest paid workers increased slightly faster than the average ( the increase in inflation in 1969 – 70 caused by devaluation, however, led to a deterioration in the position of low-paid workers ).

It was the policy of the whole government, and one in which Callaghan concurred, that devaluation should be avoided for as long as possible and he managed to arrange loans from other central banks and some tax rises in order to stabilise the economy.

On Wednesday 15 November, the historic decision was taken to commit the government to a 14. 3 % devaluation.

Before the devaluation, Jim Callaghan had announced publicly to the Press and the House of Commons that he would not devalue, something he later said was necessary to maintain confidence in the pound and avoid creating jitters in the financial markets.

With these accomplishments in place, the PNDC inaugurated Phase Two of the ERP, which envisioned privatization of state-owned assets, currency devaluation, and increased savings and investment, and which was to continue until 1990.

Comoros is one of the world's poorest countries ; its per capita gross national product ( GNP — see Glossary ) was estimated at US $ 400 in 1994, following the January devaluation of the Comorian franc.

These decisions aggravated the already delicate situation, to a point in which the crisis became inevitable and devaluation was only one of many necessary adjustments.

While experts agree that devaluation was necessary, some critics of Zedillo's incumbent 22-day old administration, argue that, although economically coherent, the way it was handled was a political mistake.

To make matters worse, the devaluation announcement was made mid-week, on a Wednesday, and for the remainder of the week foreign investors fled the Mexican market without any government action to prevent or discourage it until the following Monday, when it was too late.

He then argued that he had talked to Zedillo of a possibility of " sharing the burden " of the devaluation by allowing the peso to devaluate a certain percent before his term was over, and the rest of the necessary devaluation would have been done during Zedillo's administration.

Another balance of payments crisis in 1949 forced Chancellor of the Exchequer, Stafford Cripps, into devaluation of the pound.

However, a financial crisis in 85 forced a devaluation of the silver purity and weight to 93. 5 % and 3. 04 grams respectively.

After a costly battle, market pressures forced the government into devaluation in 1967.

It was marked by the need to pacify the country and soften the impact of the crisis after the forced devaluation of the local currency, the peso, which had lost three quarters of its value in a matter of months.

After 30 years in power, President Suharto was forced to step down on 21 May 1998 in the wake of widespread rioting that followed sharp price increases caused by a drastic devaluation of the rupiah.

This leads to a disappearance of wealth, and is usually accompanied by a sharp drop in the exchange rate of the affected country-depreciation in a variable exchange rate regime, or a forced devaluation in a fixed exchange rate regime.

His government cabinet was forced to resign on 18 May 1933, after the National Centre Party, still favouring devaluation, left the coalition and the United Peasants ' Party had lost many of its members to the reactivated Settlers ' party.

With regard to the economy Duhalde and his Economy Minister Jorge Remes Lenicov decided on an even more extreme freezing of the bank deposits, which was then coupled with the so-called pesificación (" peso-ification ", a forced transformation of all dollar-denominated accounts into pesos at an arbitrary fixed exchange rate ), and a regulated devaluation.

After a severe devaluation of SoftBank's equity, Son was forced to focus his attention on Yahoo!

In Ratigan's final CNBC broadcast from the floor of the NYSE he reported on what he called " an important story developing " that Goldman Sachs and " a variety of European banks ," in his assessment and that of his guests, essentially " perpetrated securities fraud " and an " insurance fraud scam " against AIG — and, by extension, the government and taxpayers funding that insurance company's " bailout " — by insuring their questionable investment vehicles and, upon their devaluation, making claims on them to be paid by AIG " at 100 cents on the dollar " despite all of the markdowns " being forced upon every other " entity including the government, banks, shareholders, bond holders, taxpayers and homeowners.

The day after the announcement, the price of the U. S. dollar in pesos jumped and then stabilized on 3. 07 pesos ( a 1. 3 % devaluation ); the Central Bank was forced to sell $ 270 million in the market.

The final breach in relations came after spending cuts caused by devaluation of the Pound sterling in November 1967 forced the government to withdraw from defence commitments ' east of Suez '.

The 50 % devaluation of the currencies of 14 Francophone African nations on 12 January 1994 had mixed effects on the CAR's economy.

Although the economy operates on a free-market basis, the lack of private and government investment, shortages of skilled labor and experienced managers, and inflation and the devaluation of the Turkish lira continue to plague the economy.

Overspending on the Trans-Gabon ( Transgabonais ) Railway, the oil price of 1986, and the franc CFA devaluation of 1994 have caused debt problems.

He introduced a string of austerity measures ( the " Bokros Package ") on 12 March 1995 which had the following key points: one-time 9 % devaluation of the forint, introducing a constant sliding devaluation, 8 % additional customs duty on all goods except for energy sources, limitation of growth of wages in the public sector, simplified and accelerated privatization.

However, the devaluation of the Ringgit and the deepening recession caused him to create his own programme, based on protecting Malaysia from foreign investors and reinvigorating the economy through construction projects and the lowering of interest rates.

The proposed measures included the ending of price controls, devaluation of the kwacha, reining in of government spending, cancellation of subsidies on food and fertilizer, and increased prices for farm produce.

The Russian ruble devaluation of 1998 had a deleterious effect on Moldova's economy, but economic growth has been steady since 2000.

In his work on negative affect arousal and white noise, Seidner found support for the existence of a negative affect arousal mechanism through observations regarding the devaluation of speakers from other ethnic origins.

New five star properties and the devaluation of the currency by nearly 33 % by the Seychelles Government is having a positive influence on the tourism sector as well.

In addition to the third devaluation of the Thai Baht, on September 22, 1985, Japan, the United States, the United Kingdom, France and West Germany agreed to sign the Plaza Accord to depreciate the U. S. Dollar in relation to the Japanese Yen and the German Deutsche Mark.

The proposed measures included: the ending of price controls ; devaluation of the kwacha ( Zambia's currency ); cut-backs in government expenditure ; cancellation of subsidies on food and fertilizer ; and increased prices for farm produce.

Economic turmoil and devaluation of the ruble continued, and with heart and alcohol troubles, he stepped down from office on the last day of 1999, handing power to Vladimir Putin.

Under this authority the president, on 31 January 1934, changed the value of the dollar from $ 20. 67 to the troy ounce to $ 35 to the troy ounce, a devaluation of over 40 %.

* If a country wanted to devalue its currency, a gold standard would generally produce sharper changes than the smooth declines seen in fiat currencies, depending on the method of devaluation.

" In his broadcast after the 1967 devaluation of the pound, Wilson said: " This does not mean that the pound here in Britain – in your pocket or purse – is worth any less ....", and the phrase " the pound in your pocket " subsequently took on a life of its own.

There is still some debate on whether the current ( 2006 ) growth levels are in part due to the devaluation of the Krona.

Nevertheless, the devaluation of the currency was an instrument of monetary policy used right after his reelection, when the real pegged to the dollar led to a financial crisis that saw the country lose much of its foreign reserves and raise its interest rates on government bonds to very high levels as he tried to stabilize the currency under a new free-floating regime.

The devaluation of the Mexican peso in the 1980s put a damper on cross-border shopping ; local tourism was down because of the recession.

In many cases, however, these postulates did not apply: on several occasions, the Brazilian ISI process, which occurred from 1930 until the end of the 1980s, involved currency devaluation as a means of boosting exports and discouraging imports ( thus promoting the consumption of locally manufactured products ), as well as the adoption of different exchange rates for importing capital goods and for importing consumer goods.