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Devaluation is a reduction in the value of a currency with respect to those goods, or else decree that the new coins had equal value to the old, thus devaluing the currency. — “Devaluation - Wikipedia, the free encyclopedia”, en.wikipedia.org
The tribunal rejected Haughey's claims of ignorance of his own financial affairs and Haughey was accused by the tribunal of "devaluing democracy". Haughey eventually agreed a settlement with the revenue and paid a total of € 6.5 million. — “Charles Haughey - Wikipedia, the free encyclopedia”, en.wikipedia.org
Historically, money originated as commodity money, based on physical commodities such as any money declared by a government to be legal tender. state-issued money which is. — “Fiat money - Wikipedia, the free encyclopedia”, en.wikipedia.org