МІЖНАРОДНІ ВАЛЮТНІ ВІДНОСИНИ ТА ЇХ ВПЛИВ НА ВАЛЮТНУ ПОЛІТИКУ КРАЇНИ

Abstract

Latkovskyi P. International monetary relations and their impact on the country’s monetary policy It is established that in recent decades the structure of international monetary relations has changed dramatically and has become increasingly important. Today, both the national monetary policy and the nature of the international monetary system require a modern scientific explanation. In today’s pandemic situation the functioning of the 167 УКРАЇНА І СВІТ monetary system at the national level, the choice of the current exchange rate regime and its desired level means, in essence, the choice of compromises, in accordance with the limitations of the distribution of funds. The pressure of interest groups and political forces on the country’s domestic economic activity, the structure of political institutions and the electoral incentives of the Verkhovna Rada of Ukraine dramatically influence on decisions of the exchange rate regime and the level of currencies in the country. It is noted that at the international level the nature of international monetary relations depends on the strategic interaction between governments, due to their internal national problems and limited international influence. A global or regional exchange rate regime with a fixed exchange rate, in particular, requires at least coordination and often clear cooperation between national governments. The most pressing issues are the need to revise the basic provisions of governing international monetary and financial relations. It is concluded that today the most pressing issue of the need to revise the basic provisions of the regulation of international monetary and financial relations was raised by a number of currency crises. These phenomena have clearly demonstrated that the global monetary mechanism is ahead of the bodies involved in regulating the world monetary system and the concepts by which they are guided. It is noted that the conditions for modernization of currency relations in Ukraine are still insufficient, which requires improvement of legal norms, granting the right to the National Bank of Ukraine to be the main body of currency regulation and currency control. Therefore, in the period of improving foreign exchange relations and the foreign exchange market in general, a necessary condition is the correct positioning of the state and its bodies in order to inflow foreign investment and create an effective system of foreign exchange regulation of financial flows.