Problems of International Monetary Relations and Methods of their Solutions
The country's position in the system of modern international finance depends on its emission and currency policy in the field of monetary relations. The subject of the study is international monetary relations as an integral part and one of the most complex spheres of market economy regulating the functioning of money in foreign trade turnover. The existing system of monetary and credit relations of countries causes an unequal exchange in international finance, which increases the imbalance between the real contribution of various countries to world GDP and the scale of use of their national currencies. The purpose of the work is to develop a mechanism for selecting currencies for settlements based on the activity indicator of the trade balance of the parties to establish an equivalent commodity - money exchange between the countries. The aggressive nature of foreign policy, the speculative nature of banking and exchange operations as opposed to the real sector of the economy, the monocentric dominance of world currencies lead the world financial and political system to a dead end. The scientific novelty of the article consists in the development of a mechanism for the selection and verification of currencies in calculations according to the criterion of foreign trade business activity. Conclusions are drawn about the advantages of choosing currencies by countries with an active trade balance within the framework of mutual agreements in the process of concluding international agreements on an equal and mutually beneficial basis.