devaluate

/diˈvæljuˌeɪt/
verb
  1. To reduce the official value of a country's currency in relation to other currencies or gold.
    • When a country devaluates its money, imports become more expensive.
    • Economists warned that to devaluate would cause inflation.
    • The government decided to devaluate the currency to boost exports.
  2. To lower the worth or importance of something or someone.
    • Some critics try to devaluate the artist's work, but it remains popular.
    • Constant criticism can devaluate a person's self-esteem.
    • Don't devaluate your own skills just because you're nervous.