When a country's currency devalues, it means that each unit is worth less compared to other currencies. Devaluation usually happens when a country experiences inflation and its currency is no longer as strong as it once was. This can be a problem for businesses and individuals who hold the currency, because it can mean that their money is worth less.Devaluation can also make it more expensive for a country to import goods and services, because the cost of those products will be higher when expressed in the country's currency. This can cause people in the country to experience higher prices for goods and services, and it can also lead to a decrease in the standard of living.
