I think many of the countries that are "suffering" from currency depreciation, are actually doing covert currency devaluation (looking at you, Turkey). If you

I think many of the countries that are "suffering" from currency depreciation, are actually doing covert currency devaluation (looking at you, Turkey). If you announce "we're devaluing our currency", it reminds people of the 1930's "beggar thy neighbor" policy of increasing your own exports' competitiveness at the expense of everyone else. If you suffer from your currency dropping in value, it is mathematically the same thing, but it sounds like something that's being done to you, rather than something you are doing to everyone else.