Importance In this paper, I highlight a new monetary theory as a system formed by a set of laws and principles of currency circulation. Objectives The purpose of this article is to move from consideration of individual laws and principles of currency circulation to their system in the formation of monetary policy. Methods I define the subject of this work using abstract-logical methods and the laws of dialectics with the verification of their operations in practice. Results One can not manage an economy without knowing how the laws of currency circulation operate. Only when its principles are based on these laws, the monetary policy will successfully overcome crisis phenomena. Conclusions and Relevance The new monetary theory as a system of laws and principles of currency circulation opens a wide scope for the continuation of theoretical work in this direction and allows to form an effective monetary and credit policy.
Keywords: currency circulation, essence of money, monetary theory, economy laws
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