Current aspects of world exchange market development

Tarasevych Nataliіa
PhD in Economics, Аssociate professor of the Department of Banking, Odessa National Economic University, Odesa, Ukraine, e-mail: nvt4364@gmail.com

Cite this article:

Tarasevych N. Current aspects of world exchange market development. Scientific Bulletin of the Odessa National Economic University. 2021. № 3-4 (280-281). pp. 108-114.

Abstract

Purpose. The purpose of the article is to assess the main trends in the functioning of the modern world foreign exchange market and determine the directions of its further development. Method. the system-analytical method was used; comparison method - to determine the causes and degree of impact of dynamic changes and deviations; grouping method - to systematize factual data; method of tabular display of analytical data - for displaying analytical information. Results. The main trends in the functioning of the world currency market are analyzed. The structure and dynamics of turnovers in the international foreign exchange market were assessed by types of transactions, by types of counterparties and markets; by the level of automation of operations. The structure and dynamics of individual elements of the exchange and over-the-counter market of foreign exchange instruments have been investigated. The factors of the general increase in the number and volume of foreign exchange transactions are determined: the growth of the world economy, the interest of investors in foreign currency (as an alternative to investments in the stock market); increasing the role of asset management companies and hedge funds; the development of e-commerce, which has advanced to new levels of automation and efficiency. In addition, the expansion of the foreign exchange market was facilitated by the growth of transactions with the currencies of developing countries, and the promotion of transactions based on the difference in interest rates (carrytrade operations). The main trends in the further development of the world foreign exchange market in modern conditions have been determined. Practical importance. The practical significance of the study lies in determining the features of the functioning of the foreign exchange market, analysis of trends, directions of its development and its place in the system of the modern international market.

Keywords

world foreign exchange market, foreign exchange transactions, types of foreign exchange transactions, foreign exchange market counterparties, foreign exchange values, national foreign exchange markets, international foreign exchange markets.

JEL classification: : Е440, F290, G150

УДК: 336.717

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