The influence of the exchange rate on financial stability in the countries with emerging markets
High volatility of the national currency is one of the most important threats to the financial stability of emerging markets. The paper analyzes the dynamics of the exchange rate and its impact on the stability of financial systems in this group of countries. The study also ex-amines the most popular exchange rate regimes, the criteria for selecting operating regimes and the main measures that were used to stabilize the volatility of the national currency exchange rate.The main conclusion of the paper is that in recent years in emerging economies there has been a stable trend towards a transition to floating exchange rate regimes, but in spite of this many countries were forced to limit the volatility of the exchange rate by currency and capital restrictions, currency interventions, derivatives etc