Current Issues of Exchange Rate Policy and the Direction of Their Solution

Abstract

The relevance of the article is determined by the need to revise the fundamental foundations of the global monetary system. Until recently, the idea of this system fit into the framework of mainly neoliberal theory, which operated with concepts such as “freely convertible currency”, “partially convertible currency”, etc. At the same time, there was no understanding of what exactly is the basis for determining the value of exchange rates of national monetary units in modern conditions. In fact, behind the outward appearance of supposedly independent bidding, the interests of those who, until recently, almost completely dominated the global economy were hidden.
The subject of this article is the establishment of the exchange rate within the framework of the goldstandard monetary system, as well as the specifics of its determination at the current time.
The purpose of the work is to find an answer to the question of how the exchange rate should actually be formed in the conditions of the modern monetary system.
The main research methods in the preparation of the article were the method of logical and historical unity, analysis and synthesis, deduction, organic consistency in the presentation of the material and a number of other scientific methods.
As a result of the study, it was concluded that in order to ensure the balanced development of the market (country) in the field of external market relations, as well as the predictability of the activities of direct participants in these relations, a corridor of exchange rates of national currency units of all partner countries should be established based on objective factors and finding a compromise of national interests.