When a country devalues its currency, it hopes to make up in export gains what it loses in...

|By:, SA News Editor

When a country devalues its currency, it hopes to make up in export gains what it loses in standard of living. It has often proven to be a foolish bet, as seen in the U.K., where rising corporate profitability is landing on the backs of consumers squeezed by a still-sluggish economy and rising inflation.