To which Iâd add that the test of a first-rate capacity for empathy is the ability to hold two opposed positions in mind at the same time and still retain the ability to think for yourself. Shoe-shifting, the ability to put yourself in the other guyâs shoes is a fundamental skill of extraordinary power. Itâs almost as magical as shape-shifting in fantasy in sci-fi. Itâs the scientific method applied to social life.
How it works/Example: A currency is considered devalued when it loses value relative to other currencies in the foreign exchange market. A currency 's devaluation is the result of a nation's monetary policy.A central bank can make the conscious effort to make its currency less valuable.f Country XYZ's currency is set at a fixed exchange rate of 2:1 to the U.S. dollar and, due to a weak economy, XYZ cannot afford to pay the interest rate on its debt outstanding, XYZ may devalue their currency. This means the central bank of XYZ will declare their fixed exchange rate to be 10:1 to the U.S. dollar.
Loading the player... Devaluation is a deliberate downward adjustment to the value of a country's currency relative to another currency, group of currencies or standard. Devaluation is a monetary policy tool used by countries that have a fixed exchange rate or semi-fixed exchange rate.