Devaluation vs Depreciation

Turkish lira is losing value agaist major currencies including US dollar and Euro. Which is the correct verb to use when translating into English: Devaluation (because the currency is losing value) or Depreciation? The correct answer is ‘depreciation’. Devaluation happens in fixed currency regimes when a government voluntarily reduces the value of its currency. It is their decision. Depreciation happens in floating currency regimes and Turkey has a floating currency regime. Turkish government does not and cannot declare the value […]

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