That can give the piano an annoying buzz. But any crack in a soundboard will devalue a new piano.
Labour has backed the participation of sterling in the exchange rate mechanism of the European Monetary System, and has said it will not devalue from the central DM 2.95 parity.
If Soviets see that their government not only says it won't devalue the ruble but will lose a lot of its gold reserves if it does, the value of all ruble assets would rise to meet the value of the tradable bonds.
'We had a very clear strategy, and in fact we did not devalue sterling, it was just that it floated downwards.' Poirot twirled his moustaches again.
Moreover, further depreciation of the dollar would devalue the vast U.S. holdings of Japanese investors.
The Reagan administration decided to devalue the dollar in an effort to get the trade deficit down, and the Federal Reserve cooperated by speeding up the growth of the money supply.
The government plans to devalue the leu to achieve convertibility, he said.
Some market participants think that the Danish government could be forced to devalue, even if the franc-D-Mark parity survives. Denmark's determination to resist speculators could cause problems for its economy.
Some observers believe Sweden will either have to devalue its currency or accept an austerity programme to cut the budget deficit.
The weak currencies are trying to wait for this adjustment and not have to devalue on their own."
The D-Mark gained against most European currencies as Norway's decision to devalue the krone and the Bundesbank's failure to cut interest rates added to tensions in the European exchange rate mechanism.
South Korea's apparent intention to devalue its currency is reviving concern here about whether Seoul will continue to reduce its trade surplus with the U.S.
Analysts say one of the main obstacles to the expansion of Burma's international trade remains the artificially high value of the kyat, which Rangoon has refused to devalue.
The central bank said it moved to devalue the cruzeiro because foreign-exchange reserves last month fell below $8 billion, the minimum Brazil needs to meet its international obligations.
Although multinational oil companies are nibbling the bait of exploration possibilities, foreign investment continues to be deterred by the government's refusal to even partially devalue the grossly overvalued kyat.
The next day, they would have to devalue. The Bank of Spain is not yet officially independent so it was up to Mr Solchaga to tell the prime minister the bad news.
Additionally, he said, Cairo will further devalue the Egyptian pound and raise bank interest rates.
The administration launched an effort in 1985 to devalue the dollar as a way of making imports more expensive and boosting the competitiveness of U.S. goods overseas.
The then Mr Harold Wilson had been elected in 1966 determined not to devalue the pound.
In January 1993 the university cancelled teaching for the academic year because of lack of funds. The contrast with the tendency for neighbouring anglophone countries to devalue frequently has been felt in both exports and imports.
Under the new policy, Mexico did more than just aggressively devalue its currency.
Yesterday the peso was trading at 3.42 to the dollar, just below the central bank limit of 3.45. Mr Zedillo's close advisers insist - as they must - that there is no need to devalue.
Cyclical stocks owed part of their outperformance in previous rallies, he argues, to the continuing tendency for the pound to devalue.
When currencies devalue against the D-Mark, the markets do not expect them to be revalued back up again. They expect a further devaluation, and demand higher, not lower, interest rates to compensate for that risk.
That looked a lot less sensible when the high interest rate currencies started to devalue. Partly because they are more used to taking currency exposure as a matter of routine, UK fund managers remain less drawn to overlay theory.
French officials said that despite the mark's continuing strength against the franc, they haven't any plans to devalue the French currency.
The decrees issued Friday also sharply devalue the ruble.
The union has attempted to devalue Greyhound to the point it could buy the only nationwide intercity bus company, said Collyer, former general counsel of the National Labor Relations Board.
To devalue by a quarter, as eventually happened in September that year, would be, they said, disastrously inflationary and would forfeit Britain's economic and political leadership.
The government doesn't want to devalue, and may not.