Abstract

In the article the concept of devaluation, its types, the aim of use of devaluation as a financial instrument, as well as the economic crisis, caused by a sharp drop in oil prices on the world market and devaluation of some national currencies have been discussed. In addition, the article also the effects of devaluation on the economy are examined, its negative and positive aspects, causes and results were analyzed. Some proposals are offered about what steps to take for the successful devaluation, what to do in case of a crisis on the example of some countries.

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