Internal devaluation

Internal devaluation is a way for a country to make their products and services cheaper for other countries to buy. To do this, the country lowers the value of their currency, so it takes fewer of their currency to buy the same amount as before. It's like if someone gave you a dollar and said it was worth five cents. You could buy more things with the dollar, because it was worth less. Countries can do the same thing by changing how much their currency is worth compared to other countries. This helps them make their products and services cheaper for other countries.