Currency war is a type of policy aimed at depreciating the official currency, with the aim of improving the competitiveness of the respective country in foreign trade at the expense of other countries. Currency devaluation is the complex of activities aimed at reducing the purchasing power of the national currency. Usually, this term is related to the actions of the central authorities of a country to reduce the exchange rate of its national currency against the currencies of other countries considered as important for the foreign trade of the promoting country. Likewise, countries may pursue such a strategy to gain competitive advantages in global trade and/or to reduce their sovereign debt burden.In the same way, it should be mentioned that currency wars are against the spirit of the world financial system, the foundations of which were created in the middle of the 20th century, and international practice has developed mechanisms to regulate international currency confrontations. Devaluation can have a number of negative consequences, the most important being inflation. Consumers in that country bear the burden of higher prices for imported goods. At the moment, against the background of the post-pandemic international economic and financial crisis, certain currency confrontations are taking place on the international currency market.The study of these processes is of great importance for the promotion of the currency policy of the affected countries.