A deliberate decrease in the value of a currency is known as currency devaluation. Currency devaluation is typically carried out by a country's central bank or government and involves lowering the exchange rate of its currency relative to other currencies or a fixed standard, such as gold. Currency devaluation can be used as a tool to make a country's exports more competitive in international markets, as it makes them less expensive relative to goods produced in other countries. However, currency devaluation can also lead to higher inflation and reduced purchasing power for consumers, as imported goods become more expensive.