I’ve heard commentators state that in places like Egypt, Turkey, and Argentina, that their devaluing currencies benefit tourists with strong currencies. If local prices rise to match the devaluation of the local currency, doesn’t that mean that you can’t exactly buy more with what you have since prices adjust?
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what it means that tourists find it cheaper to travel their, and their money goes “further”, so its more likely they go, so more money is brought in.
the flux is not exact and local prices don’t rigidly follow changes in the currency markets, theirs a significant delay. Also, if most of your transactions are to other locals who all use the local currency, changes in FTX markets have fairly low impact.
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