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ИД «Финансы и кредит»






Regional Economics: Theory and Practice

Devaluation of the national currency and the economic security of the State

Vol. 22, Iss. 4, APRIL 2024

Received: 26 August 2021

Received in revised form: 9 September 2021

Accepted: 23 September 2021

Available online: 15 April 2024


JEL Classification: F31, F33, O24

Pages: 710–733


Dmitrii Yu. FEDOTOV Baikal State University, Irkutsk, Russian Federation


Subject. This article examines the currency relations formed under the influence of the monetary policy of the Bank of Russia, and the dynamics of the official exchange rate of the ruble against the US dollar and the exchange rate at purchasing power parity.
Objectives. The article aims to investigate the impact of changes in exchange rates on the development of the Russian economy.
Methods. For the study I used the methods of correlation, logical, and statistical analyses.
Results. The article identifies the main objectives of the monetary policy of the Bank of Russia related to the strengthening of the devaluation of the Russian ruble. It reveals a correlation between the dynamics of the official ruble exchange rate and changes in macroeconomic indicators characterizing the economic security of Russia.
Conclusions and Relevance. The current monetary policy of the Bank of Russia restrains the country's economic advancement. The results obtained can be used by government authorities when developing currency policy measures.

Keywords: purchasing power parity, currency, correlation analysis, exchange rate, economic security


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