What causes devalutation of a country's currency?

Valuation is based, among other things, upon the stability of the currency. The US Dollar has been undergoing devaluation for the past few years. The primary reason for that is a significant deficit as a result of borrowing to fund the war. Think of it this was. An individual's personal credit rating goes down if they have too much debt. When this happens, the lender gets concerned that the individual may not be able to repay the loan if more debt is taken on.
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Currency devaluation is caused by a myriad of interactions. It can be caused by something as simple as a country losing money on the international front due to poor trade relations or a national recession/depression, but it can also be caused by currency speculation.
High level traders like George Soros have the ability to manipulate the currency market through speculative trading from one currency to another. If everyone simultaneously takes their, let's say, American dollars and changes it to the Mexican peso, the value of the dollar will fall while the value of the peso will rise. There will be more demand for the peso and less for the dollar, dramatically increasing the current value of the peso.
It gets a bit more complicated, but a basis in general economics is needed in order to sift through the information.

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inflation works

when the central bank prints to much money.

a) The government prints more money than it should.
b) Workers in the country become less productive than they had been.
c) George Bush is the president.