The effective devaluations in the late nineties left heaps of pent-up differential inflation across much of the peripheral eurozone.

President Paz-Estenssoro announced a free exchange rate for the peso, which was floated on August 29, 1985, resulting in an effective devaluation of 95%.

EXPORTS should be boosted by the effective devaluation of the pound.

But it was Mr. Kohl who led the movement among European nations to delay aid to Russia after its effective devaluation of the ruble two weeks ago.

The decision allows officials to describe an effective devaluation instead as "flotation."

Since the baht's effective devaluation in July, its value has tumbled more than 40 percent.

When the wave of speculation pushed the pound below its floor, the British Government withdrew the pound from the system in what was an effective devaluation.

Though the central bank permitted a small effective devaluation last fall, it has been reluctant to allow a big drop.

Sensing the economy's weakness, currency traders attacked the baht, forcing its effective devaluation.

When he announced an effective devaluation of the currency days after vowing one would not take place, the investors from Iowa fled.