Again...no...Devaluation takes place whenever the real money supply (and not the nominal money supply) is far higher than the quantity of goods and services within a macroeconomic system.
There are so many lawyers and economists who agree with me. The specter of devaluation is something absolutely irrational invented by the monetarists, and based upon conjectures and logical fallacy.
You're conflating devaluation as an economic term with a more colloquial use of the word. Devaluation is where government policy is used to deliberately reduce the value of the country's monetary unit. The common example of this is where a country ties the value of their currency to a foreign currency. It is not merely an outcome of policy, but a deliberate engineering of it.