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The veranito rests on financial controls, autarchy and a very weak exchange rate.
Similarly, they may raise rates if a weak exchange rate threatens to push up import prices.
However, the weak exchange rate also helped to boost orders from the US, the EU and China.
Thanks partly to weak exchange rates, Kyrgyzstan and Tajikistan, the two poorest post-Soviet countries, face double-digit inflation.
A weak exchange rate, by contrast, encourages consumers to switch from pricey imports to cheaper home-produced goods and services.
Sunshine, low prices, magnificent scenery – with great summer weather and a relatively weak exchange rate, South Africa's most glamorous city is an attractive destination right now.
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One of the beneficial consequences of QE for America is a weaker exchange rate.
"Late bookings in July were weaker than expected, due primarily to the heatwave, and weaker exchange rates," said O'Leary.
The dollar will keep falling until the weaker exchange rate increases American exports and, in turn, the broader economy.
In countries with floating currencies, looser monetary policy often (though not always) results in a weaker exchange rate.
O'Leary blamed slow demand on the ongoing impact of austerity, tough economic conditions across Europe, and weaker exchange rates.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com