In the structure of foreign economic policy of any country plays a special role monetary policy, which includes a set of measures to maintain the stability of the monetary unit of the state and ensure that trade and economic relations, which are aimed at achieving the set targets of macroeconomic development.Monetary policy is also considered as part of the global macro-economic system of the state, along with such important components as fiscal, monetary and structural and investment system.Consider this concept in more detail.
Monetary policy - is the mechanism of currency regulation and foreign economic strategic planning, defining the official position of the country in respect of control over the circulation of foreign currency and certain exchange restrictions, as well as the exchange rate regime.The main instruments of monetary policy - subsidies, intervention and parities.Legally, this kind of public policy fixed by the currency legislation, which regulates the operations of the gold and throughout the country.
Monetary policy includes such important components as exchange rate management, management of convertibility of the national currency and control policy reserves of the state.By means of two diametrically opposed systems of state regulation of exchange rates determined by some form of monetary policy.There are both fixed and floating exchange rates.In the range between these variants may be many different combinations that lends flexibility to the monetary policy.
Selecting the monetary policy pursued by the government, most dramatically affects the price level of consumer goods sold in both domestic and foreign markets.Monetary policy - an extremely dynamic structure, its shape and the elements can change under the influence of various factors of the evolution of the global financial sector, the economic situation of the country, the volume of industrial production, the balance of forces on the world political arena, and other equally important conditions.
most effective method of conducting monetary policy - motto system that provides for the regulation of the course of the national currency through the purchase and sale of cash foreign countries.Such a system may take various forms.For example, currency restrictions and intervention, diversification of foreign exchange reserves, and others.
Now the world recites more than a dozen different monetary policy regimes.Some states, conducting large-scale economic reforms, resorted to a strategy of dual-currency market, which implies the division of a single system into two parts: the official sector used for commercial transactions, and the market sector in which there are a variety of financial and exchange operations.
But traditional methods of monetary policy still remain the devaluation (depreciation of their own currency against the US dollar) and the revaluation - increase this rate.
