Tokhtamysh T. Actual questions of the establishment of the exchange rate regime of the national currency

Abstract

In the article was researched the exchange rate regimes of the national currency by the method of the IMF and domestic practice. It was determined that the most common modes are fixed and floating rates. It indicates their differences, which is the degree of capture of the central bank's official commitment to support the parity of the exchange rate through currency intervention. It is noted that the methodology of determining the exchange rates has been the International Monetary Fund. The latter was developed two classifications determining exchange rate regimes: de-facto-classification and de-jure-classification. Identify their strengths and weaknesses. The analysis was researched changes in the content of the de-facto-classification, 1999 and 2009. Given the characteristics of the establishment of exchange rate regimes in Ukraine and offered the tools to implement them. The main factors of influence on the currency, which are divided into three groups: factors that form the course, regulatory factors and critical nature factors. It was determined the degree of influence of each factor on the currency of the country. Factors that form the course determine the optimal state of supply and demand of foreign currency, which is prone to stability or gradual, internal conditioning and the intended change. Structural factors affect market conditions due to changes in factors that form the course. These tools are used directly by the state to achieve certain goals in its economic policies, but their effectiveness is increasing in an environment where the economy is in a long-term equilibrium. Critical nature factors arise in violation of dynamic equilibrium of the economy and, in turn, weaken the effect factors that form the course and reduce the impact of regulatory measures of the state.