2015 Event China devalues the yuan by 1% after devaluations of 1.62% and 1.92% over the past two days; the moves are an effort to stem an economic slowdown by boosting the competitiveness of exports and reducing the costs of borrowing 1973 Event U.S. dollar devalues 10 percent 1967 Event British government devalues pounds from U.S. equivalent of $2.80 to $2.40 1931 Event Britain abandons gold standard/pound devalues 20% 1596 Event King Philip II devalues Spanish currency
