Explore the vast range of titles available.

The level of currency exchange security is an important indicator of the effective functioning of the currency exchange market. An imbalance in the domestic currency exchange market intensifies financial instability and makes it impossible to maintain an adequate level of currency security. The purpose of the research is to estimate the level of currency security of Ukraine in the conditions of currency market imbalance to determine the main reasons for its inadequate level and to make proposals for improving the methodology of calculation of the integral index of currency security.The article offers the author's interpretation of the essence of the concept of \"currency security\". The integral index of currency security during 2008 - 2022 was calculated in accordance with the \"Methodical recommendations for calculating the level of economic security of Ukraine\" and recommendations were suggested for improving this methodology in order to improve the situation on the currency market.It was proved that certain indicators make an impact on the level of currency security of Ukraine: movement of capital, negative trade balance, sufficient level of international reserves, dollarization of the economy, and high level of public debt. Ways to ensure an adequate level of currency security were proposed. Macroeconomic indicators that can act as indicators of currency security are considered and the correlation between them and the level of currency security was investigated. The expediency of introducing an additional indicator for the integral assessment of currency security is substantiated: the ratio of state and state-guaranteed debt to GDP. It allows to calculate the level of currency security more reliably. It is well-founded that the proposed indicator has a close stochastic connection with the exchange rate, therefore, if it is used with existing indicators of currency security calculation, it allows to detect negative trends of decreasing of the level of currency security.

This study sets out to explore the impacts of the Russian-Ukrainian conflict on worldwide financial markets by considering a large array of national currencies, precious metals and fuel, agricultural commodities and cryptocurrencies. Estimations span the period since the Russian invasion until the takeover of the Ukrainian city of Mariupol. Optimal portfolios are constructed for separate categories of financial assets for different levels of risk-aversion by investors. The Chinese yuan, gold, corn, soybeans, sugar and Bitcoin prove to be safe haven investments while the Japanese yen, natural gas, wheat and the combination of Bitcoin and Ethereum offer profit opportunities for risk-seekers. Notably, the agricultural commodities’ portfolio is the best performing while the cryptocurrency portfolio generates the worst risk-return trade-off. National currencies could act as safe havens in the place of gold when all types of assets can be combined. Natural gas is revealed to be the most reliable profit generator. Overall, high risk appetite does not result in large improvement in portfolios’ returns. This study sheds light on investors’ optimal decision-making during elevated geopolitical uncertainties and provides a compass for improving welfare.

This study investigates by adopting a legal view how feasible could be for stablecoins to prevent price and financial instability. The composition, reliability and stability features of the reserves backing stablecoins as well as the consequent perspectives for acquiring the ‘legal tender’ label are examined. Adopting stablecoins as defence against inflation and financial fluctuations necessitates a common legal framework in a worldwide extent and the creation of a global common monetary union. By building on previous research and combining a legal and economic approach, this paper argues that the prerequisites for reaping the benefits from stablecoins are very difficult though not impossible to be realized.

The article reveals the features of the payment infrastructure of cross-border trade between China and Russia on the background of geopolitical risks. The authors emphasize the importance of organization and mechanisms of mutual payments between the two states. The risks of using international payment and clearing systems for Russia and China are noted. The development of national payment systems and national systems of financial information transmission in these countries are analyzed. The role and the transformation of traditional forms of payment mechanisms in Russian-Chinese cross-border settlements are defined. The purpose of the article is to perform system analysis and evaluate existing payment schemes today in trade between Russia and China. Methods. In this research methods of logistical and statistical analysis were used, which helped identify key trends, individual problems and prospects from this perspective. Results. Due to the global economy fragmentation and increased international competition, a fundamental reorientation of approaches to the organization of international trade settlements takes place as a factor of reducing the vulnerabilities of foreign economic activity. Novelty. The authors have systematized in details various ways of Russian-Chinese cross-border settlements, using elements of national payment systems that influence intercountry trade turnover, reducing global threats to national economies.

This article analyses Croatian public discourse on euro introduction from the perspective of two areas of the anthropology of money and finance: the role of discourse in this sphere of social life and the layered and varied nature of currency, including the euro as an example of its contemporary transformations. It further situates this discourse in the politico-economic context of currency inequality. The key finding is that the discourse has been marked by hegemonic narratives about Croatia as a small and open economy, as a country with an inflationary past, and as a peripheral country that can join the centre by adopting the euro.

Armed aggression and its negative impact on the exogenous and endogenous environment of economic agents aggravate the problems of the sectors of the national economy, in particular, the banking sector. In this context, the state acquires a key role in managing the processes of the banking sector at both the micro and macro levels. The aim of the article is to determine the key characteristics of the state’s influence on the banking sector in Ukraine during the active phase of the war. The method of synthesis, the method of economic and statistical analysis, and the case method were applied for the analysis. The methodological framework of the research is the method of strategic analysis. The key task of balancing the operational work of the banking sector, maintaining a stable macroeconomic condition and state security is emphasized. As a result, emphasis is placed on the need to define a system of key indicators for management by the regulator and central authorities during the war. Accordingly, the analysis of these indicators showed that the banking sector of Ukraine did not experience catastrophic losses in 2022, which indicates the success of the state in this area. In particular, the number of operating banks in Ukraine slightly decreased by -5.7% in 2022 to 67 banks. Moreover, it was recorded that the banking sector of Ukraine maintained a positive financial result at the level of UAH 12 billion net profit in Q3 2022. Prospects for future research consist of an in-depth study of factors influencing the complex of state actions at the micro- and macro-levels in terms of meeting the needs of the main groups of stakeholders.

The purpose of this article is to indicate the effects of hyperinflation on the Zimbabwean construction industry. The latter, much like its successful regional and international counterparts, contributes towards the country’s gross domestic product, improving employment levels, economic growth, and restructuring the unfavourable balance of payment. In the last decade, however, this has not been the case in Zimbabwe as the country has grappled with severe hyperinflation that has led to the lack of a stable national currency accompanied by shortages of investors and labour which have resulted in the collapse of the construction industry. Regardless of other debatable causes of the crises the Zimbabwean government has labelled hyperinflation the country’s foremost enemy, the root cause of the construction industry crises. The article presents the findings of a Masters study whose primary objectives were to determine the cause of hyperinflation in Zimbabwe, investigate the relationship between hyperinflation and the collapse of the Zimbabwean construction industry, and determine whether hyperinflation is indeed responsible for the collapse of the Zimbabwean construction industry. The significant findings of the study (conducted at the peak of Zimbabwe’s hyperinflation) are as follows: the Zimbabwean government and the Reserve Bank of Zimbabwe arbitrarily printing money are the root cause of hyperinflation; hyperinflation has resulted in the lack of a stable national currency; investors and labour factors have led to business closures; stunted economic growth, and a collapsed construction industry. The article concludes that hyperinflation shares an inverse relationship with the construction industry; in other words, as hyperinflation increases, construction industry performance decreases up to a point where the industry collapses and vice versa. The article demonstrates how this phenomenon has led to the collapse of the Zimbabwean construction industry. The article recommends that the variables that are lacking in Zimbabwe be replenished as a precondition for the revival of the construction industry and that the merits of a stable socio-economic environment, a new government, dollarisation and an infrastructure stimulus package to address or counteract the effects of hyperinflation on the construction sector be investigated.

The paper deals with basic approaches to monitoring of the currency risk. The purpose of the paper is to substantiate the theoretical and methodological foundations of the complex application of risk assessment methods to prevent the adoption of its excessive level, as well as instruments for monitoring the profitability of operations in the foreign exchange market, based on the calculation of the consolidated balanced index. It was determined that in the context of the volatility of the national currency the exposure of banks to currency risk increases significantly, it means that is, the magnitude of the consequences of its manifestation for most financial intermediaries increases. The authors of the paper consider the system of currency risk management as a set of goals, principles, functions, methods, tools and specific techniques of purposeful, continuous influence of the management system on the managed one for timely estimation and monitoring of currency risk in order to minimize it and achieve specified parameters of currency yields. In according to current management standards, implemented by leading financial institutions and international regulators, currency risk monitoring mechanisms must not only timely and effectively identify deviations from key risk targets, but also provide for the ability to identify unforeseen situations. It was proved that that the monitoring tools, policies and procedures have to meet a number of criteria, which are taken into account at the achievement of the main goals of the bank and increase its resistance to external shocks on the foreign exchange market. Taking into account the fact that the value of currency risk by the ES metric is included in the calculation of the consolidated balanced index, the change in the regulatory regimes is made on the basis of the projected deviations of the CEI from the target corridor, recorded at the initial stage in determining the level of risk exposure of the bank. Thus, the proposed balanced approach to forecasting involves the use, on the one hand, of statistically reliable quantitative analysis tools and, on the other hand, qualitative environmental change signals that aggregate the benefits of structural methods, while providing the flexibility and timeliness of managerial decision-making.  The specification of currency risk management regimes should be tailored to the specific features of a particular bank and have a combinatorial nature that involves the integration of individual impulses by analysis tools, forecasting, time horizons and levels of management, as well as in terms of components of the CEI consolidated balance sheet and risk level of activity in the foreign exchange market. This approach allows for the flexibility of management systems and their adaptability to the external conditions of the bank, and the use of quality monitoring signals increases the speed of decision-making and elimination of deficiencies that can be inherent in econometric assessment tools.