Socialist policies that undermined production and produced shortages of basic food products also fueled inflation, while a depreciation of the currency shortly before Chavez's death promised to worsen those problems.
Not every Chinese citizen is in the position to export cash, so the next best tactic for the nervous is to buy gold, a refuge from plunging property prices and declining stock markets as well as an anticipated depreciation of their currency.
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Newly installed Prime Minister Shinzo Abe has made the depreciation of the currency one of the centerpieces of his controversial economic program, so there are expectations of aggressive tactics from the Bank of Japan, especially now that Masaaki Shirakawa announced on Tuesday his intention to step down early as its governor.
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The exception is the U.K., which has somehow escaped international censure despite the biggest depreciation of any major currency perhaps because it has apparently derived so little benefit from it.
Such expansionist monetary policies in and of themselves, in isolation regarding the fiscal policies, ultimately lead to a depreciation in the value of the currencies of emerging countries -- rather they lead to a depreciation in the value of the currency of developed countries, thus impairing growth outlooks in emerging countries.
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We also bought Sony, a major beneficiary of currency depreciation.
People who had significant money the rich threw their money into the products offered by the financial sector, in that the worst thing to happen to a fortune diligently built up over the years would be to see it frittered away on account of currency depreciation.
These developing countries often intervene in currency markets to prevent currency appreciation and its negative effects on their balance of trade resulting from currency depreciation and manipulation in other countries.
Investors were awaiting a meeting of Group-of-20 finance ministers in Moscow later in the week, which is expected to confront the issue of deliberate currency depreciation.
This adds to a general lack of confidence in the local currency caused by memories of its depreciation during the economic crisis of 2001.
What would really help the market, and stocks like Canon, whose earnings are largely in foreign currency, is depreciation of the yen.
Initially it prescribed its usual medicine of tough budget tightening but backed off quickly after recognizing that the policy was accentuating the drastic drop in economic output caused by the battering sharp currency depreciation had delivered to the balance sheets of companies and banks that had borrowed abroad.
So any significant repatriation of those funds would cause a significant depreciation in the Brazilian currency, the real.
Antitrade activists frequently suggest that free trade is a "race to the bottom" and lobby for currency depreciation in order to improve the export position of American firms.
If Greece still had its own currency, it would depreciate substantially against other currencies and much of the necessary reduction in Greek real income would take place via that currency depreciation.
Depreciation may help the domestic economy, but it inflicts a loss on foreign holders of local-currency government bonds.
And the local currency's 18% depreciation against the U.S. dollar since the onset of the Asian financial crisis has brought costs way down.
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