Eli5: What does devaluation of a currency mean? How does deliberate devaluation helps a country economically?
In: Economics
The lower the value of your currency, means you exports become easier to buy. Devaluing your currency is a good way to keep the economy running and grow exports.
Unfortunately, it also has the opposite effect that getting imports will be more costly. So if you need a lot of imports to run your country, thats bad, but if you are a big exporter, thats good
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