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Keyword: «exchange rate»

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The successful development of the national economic system depends mainly on monetary policy. Since the early 1990-ies the developed monetary policy comes to the fore in the system of state regulation of the market economic system. At the present stage, Russian economic system is experiencing a crisis. The consequence of this situation in national economy is characterized by such factors as the significant depreciation of the national currency, the collapse in commodity prices and stock markets, to impose sanctions against Russia, the manifestation of inflationary processes etc. Running in such adverse economic conditions is a complex process. Therefore, the minimization of these factors and further elimination is needed. One of the tools that can solve a number of negative phenomena in the economy in the short and medium term can be the competent monetary policy.
The events in the economy of Belarus that took place after the presidential elections in August 2020 are reflected. The state of the Belarusian economy has always been unstable. The declared socio-economic goals for the current five-year plan are clearly not attainable. Since the beginning of 2020, the Belarusian economy has been influenced by the global “coronavirus crisis”, which was superimposed by an internal political crisis. It is proved that without the resolution of the political crisis, the country's economy will not get out of stagnation and recession.
The article examines the dynamics of changes in the exchange rate of major world currencies over the past 20 years. The source data for each of the currencies were found, and tables of exchange rates and their changes for the period under review were constructed. Conclusions are drawn about the stability of currencies and their rating is compiled. Recommendations on the choice of the main currency for savings are given.
The article examines a set of problems associated with regulating the exchange rate of na-tional currencies. To the greatest extent, their essence was manifested in the collapse of the generally accepted assertion that the stability of the exchange rate of all currencies can and should be ensured by highly liquid reserves in dollars and euros, which are stored in various accounts of state banks. The purpose of preparing the article is to clarify the understanding of such economic categories as “money” and “exchange rate”, and also, based on our interpretation of their essence, to determine the essence of the mechanism for forming the value of some currencies in relation to others. Having achieved this goal and carried out a brief study, it became possible to draw a number of conclusions, including the desirability of freeing ourselves from the misconception that the exchange rate is something independent of the will and actions of people, the importance of first reducing and then completely abandoning from transactions with currencies that have extremely little backing with quickly realizable assets, about the need, with the participation of interested states, to develop and undertake specific efforts to restore all five main functions of money and, on this basis, create a more objective pricing of national currencies. The article may be of interest to economists who both carry out practical activities on the formation of exchange rates and study theoretical issues of this process.