MARKET MECHANISMS OF HRYVNIA EXCHANGE RATE STABILIZATION: ACCOUNTING AND INSTITUTIONAL ASPECTS
MARKET MECHANISMS OF HRYVNIA EXCHANGE RATE STABILIZATION: ACCOUNTING AND INSTITUTIONAL ASPECTS

Summary/Abstract: Introduction. The problem of sharp exchange rate fluctuation of the national currency is considered in the article. The international practice shows that consolidation of the national financial markets may be provided on the basis of such regulated markets. The purpose of the article is to develop approaches to justification of theoretic-methodological bases for solution of the problem of sharp rate fluctuation of the national currency. Results. The factors of negative impact on process of establishment of currency rate are proved. Theoretical justifications for usage of system of counterbalances in the conditions of economy of Ukraine are defined. The need to use derivative financial instruments on the basis of the developed countries experience is analyzed. Institutional and legal registration in the form of transparent and public exchange rules of derivatives turnover is offered, which will not only allow to improve the currency relations in the country, but also will bring financial market to a new level of development. Problems of the accounting of currency derivatives, in particular regarding their balance assessment, are designated. The considerable attention demands coordination of the registration practice with the current regulatory and legal framework, namely with the regulations of the National Bank of Ukraine (NBU). Conclusion. It is defined that financial infrastructure should be the key element of the establishment and functioning of the financial market, which is impossible without a centralized clearing. Conditions for the concentration of such markets and the liquidity of the banking system in general are defined. Thus, the results of the research may be used in perspective development planning of enterprises and organizations, which activity is significantly affected by the change of national currency rate. Furthermore, the proposed steps to the settlement of the problem of sharp fluctuations of the national currency exchange rate may be used for planning of the financial institutions development and accounting of currency derivatives.

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