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Is the devaluation of the local currency causing inflation or deflation?
Tell me what I think, not necessarily right. Money in circulation. Inflation or deflation, that is, too much or too little money in circulation. The depreciation of the local currency will cause the "currency" to flow upward, that is, the depreciation of the local currency. Relatively speaking, foreign currency is more valuable, and money will flow out of the country and chase more valuable foreign currency. In this way, the domestic currency circulation will be reduced, and there will be the possibility of deflation.