Stages of the formation of the currency system of Ukraine as a state-legal form of organization of currency relations and a component of the world currency system

Анотація

The currency system of each country is an important component of its economic system, but it has not only an economic but also a legal aspect, since currency relations within the state (national) currency system are regulated by the norms of national legislation. Therefore, it is a state-legal form of organization of currency relations. This also applies to the currency system of Ukraine, which, as a state-legal form of organization of currency relations, hand in hand with other state (national) currency systems, is part of the world currency system. The purpose of the paper is to identify and characterize the stages of the formation of the currency system of Ukraine as a state and legal form of organizing currency relations and a component of the world currency system. The paper identifies the stages of the formation of the currency system of Ukraine from a legal point of view, that is, as a state-legal form of organizing currency relations in the country. To summarize, we note that in the 20th and early 21st centuries, the diffusion of currency systems of different countries in the context of internationalization and integration of the world economy led to their destruction, especially in economically less developed countries. This is manifested through partial or complete abandonment of the use of national currency in settlements and as a means of accumulation, and the use instead of it in settlements within the state and in settlements between different states, foreign or collective currency. The tendency towards the diffusion as well as the distraction of national currency systems is also manifested through the creation of regional and partial international currency systems. That is, the states themselves, in fundamentally new conditions of development of the world community, are partially abandoning one of the important principles - the principle of monetary sovereignty. Although, today, especially considering the arbitrary sanctions policy pursued by a number of Western states, and the change from liberal tendencies to protectionist policies in many states, there is a trend towards a strengthening of the role of national currencies in international settlements, national and world currency systems, and regional associations of states. The results of the research can be used in scientific and practical activities in the process of further improving the currency legislation of Ukraine.

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