Yakunin S.V.Saratov Socio-Economic Institute, Branch of Plekhanov Russian University of Economics, Saratov, Russian Federation ysw@yandex.ru
Andronov I.I.Saratov Socio-Economic Institute, Branch of Plekhanov Russian University of Economics, Saratov, Russian Federation ivan.andronov.1983@bk.ru
Importance The research examines currency systems as they are in various countries, reasons for devaluation of national currencies, effect of changes in the key rate of the U.S. Federal Reserve system on other economies. Objectives The research examines how the currency policy influences the national economy and considers theoretical views on reasons for devaluating national currencies. Methods Using methods of induction, deduction and classification, we analyzed the devaluation process in various countries. Results Reasons for devaluation differ in countries, which depend on the value of produced resources and where the economy is based on production of goods and their sale abroad. Conclusions and Relevance Devaluation becomes reasonable when macroeconomic factors make the inflation uneven. As the overview of national currencies devaluation shows, its purposes and extent differ throughout various countries. The devaluation pursues protecting domestic manufacturers of goods, ensure deficit-free budget and keep the volume of gold and currency reserves. The national currency devaluation depends on gold and currency reserves, reliance of the national budget on the value of resources sold, economic diversification and other factors.
Keywords: devaluation, monetary and credit policy, central bank, gold and currency reserves
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