This strategy (interest raise to minimize currency devaluation) is being adopted in countries like Brazil and Russia:
Brazil interest rate http://www.tradingeconomics.com/brazil/interest-rate
Russia interest rate http://www.tradingeconomics.com/russia/interest-rate
How does the interest rate rise protect the currency value?
I'm used to see news about governments raising the interest rate with the aim of protect the currency value. But I never saw an explanation about how these two things are related.