In the year 2020 when the world pandemic hit many economies, Pakistan was one of the countries

which was able to appreciate its currency, however this appreciation was a struggle from long run

efforts. Initially exports were made cheaper by devaluing its currency. Economists have explained this

concept with a Curve, illustrate that in your answer and explain it how the concept works. describes a

typical response of trade balance to currency depreciations. What do you understand by this statement,

illustrate in the light of the diagram