The Government's moves included the second currency devaluation in a week.
How will Asian countries try to control the chain reaction of currency devaluations?
An outright currency devaluation, considered less likely, would hurt living standards significantly.
This situation has changed especially after the currency devaluation in 2002 and foreign investment during the 1990s.
A currency devaluation three years ago made local manufacturing profitable.
Lower interest rates mean a de facto currency devaluation against the mark and the dollar.
In cases of financial need, French kings could use the official value for currency devaluation.
Their decision to expand rather than leave is driven in large part by Russia's currency devaluation.
Rejection would probably lead eventually to currency devaluations and to lower European interest rates.
There are also worries about the effects of currency devaluations abroad.
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