UDC 339.9.012.42
DOI: 10.36871/ek.up.p.r.2024.12.12.019

Authors

Albina E. Zhminko,
Egor A. Stratiy,
Vadim V. Khlybov,
Veronika V. Pekisheva,
Kuban State Agrarian University named after I. T. Trubilin, Krasnodar, Russia

Abstract

Currency transactions play an important role in shaping the economic system of any state, while determining the dynamics of international trade, tourism, investment activity and financial stability of the country. Throughout its existence, Russia has undergone a large number of radical changes in the structure and mechanisms of currency regulation — under the influence of both strategic priorities within the country itself and foreign economic conditions in the international arena. The article provides a comprehensive analysis: the current situation of the Russian currency sector, the key factors of its formation and transformation under the influence of global economic trends are considered. Special attention is paid to the current challenges and prospects for the development of this area against the background of global processes. It is worth mentioning the evolution of currency regulation, the relationship between domestic policy and foreign economic conditions, modern challenges for the Russian currency market (for example, sanctions, fluctuations in world oil prices), strategies for adapting to global changes. At the moment, the Russian currency is under the close supervision of the Central Bank of Russia. Despite the convertibility of the ruble as a currency, a set of measures to stabilize the country’s economy continues to operate. The main responsibilities of the Central Bank are to manage gold reserves and ensure the exchange rate balance in order to avoid excessive pressure from external parties (sanctions).
The exchange rate policy of the ruble is based on a flexible floating exchange rate regime. This means that market mechanisms determine the value of the national currency, but the Central Bank actively intervenes to prevent sharp fluctuations and maintain stability. This approach makes it possible to optimize Russia’s participation in international markets without compromising domestic economic processes. The purpose of this work is to study the relationship between exports, imports and economic growth of the Russian Federation by using annual data in dynamics. In particular, this work attempts to empirically find an answer to the question of whether exports and imports lead to financial and food security.

Keywords

foreign trade turnover, food security, financial security, currency transactions