Currency depreciation is inflationary and directly reduces the purchasing power of individuals, it translates into more expensive overseas holidays, higher fees for overseas education of children, and higher spending on imported goods—food, medicines, wines, cars, mobiles, laptops etc.
However, at a country level it may serve different objectives and goals. Moderate and calibrated depreciation of currency is necessary for countries to provide for domestic inflation as well as for improving the cost advantage and competitive position of a nation. Runaway depreciation, though, can cause havoc and can become a nightmare. Unstable currencies are a big NO for international investors.