Devaluing the currency to increase exports makes everybody in the country poorer (reduces their purchasing power for all imported goods). It also can't necessar

Devaluing the currency to increase exports makes everybody in the country poorer (reduces their purchasing power for all imported goods). It also can't necessarily reduce the price of exports that depend on imports (e.g. importing iron, exporting steel) because the price of the imported components rises, causing an increase in the price of the finished good. Switzerland is an example of a country with a strong currency and citizens with very high purchasing power because of this.