"Recent devaluation" refers to a recent decrease in the value or worth of something, such as a currency, stock, or asset. It means that it has lost some of its purchasing power or value compared to what it used to have. Full definition
Of course, Chase had their hand forced after recent devaluations of United Mileage Plus and Hyatt Gold Passport loyalty programs. (lazytravelers.net)
Aeroplan is another program that gets quite a bit of attention despite recent devaluations and with jetBlue Mint becoming increasingly popular..... (travelingformiles.com)
Even with recent devaluations to the United MileagePlus loyalty program, that remains a good value for several types of award redemptions, particularly in international business class. (travelcodex.com)