Klymenko O., Matvienko G. Modern processes of exchange rate in Ukraine.

Abstract

In article considered the current rate-setting process of national currency in Ukraine. Highlight the evolution of the global monetary system and identified exchange rate like one of the key elements of the monetary system. Considerable attention is paid on factors such as economic wich affecting the exchange rate. It was determined that during the acute socio-economic and political conditions and the decline  production, good  monetary and exchange rate policy of the state is important. Analyzed the dynamics of the hryvnia against foreign currencies at the period 2010-2015 years. A significant depreciation of the national currency was in early 2014 becouse the background of political instability. The peak value of the official exchange rate was registered in February 2015 - 3001.01 UAH. for $ 100 US. What was the consequence of the failure of the National Bank from using the indicative exchange rate on the foreign exchange market and the daily indicative currency auctions. The volume of transactions in non-cash foreign currency on the interbank currency market of Ukraine in 2015 was lower by almost on five times in comparison with 2014 year. Analyzed the volume of international reserves of Ukraine for the period 1999-2015 years. The maximum value of foreign reserves was recorded at 2010 -  $ 34.6 billion, the lowest - 7.5 billion US dollars at 2014. With different rules limiting and regulating the foreign exchange market was introduced in order to stabilize the exchange rate of the National Bank. It was concluded that the monetary and exchange rate policy should be conducted in accordance with the state of economic development of the country and ensure the minimization of the negative impact of internal and external negative factors, to avoid devaluation shocks and contribute to sustainable economic development.