Floating exchange rate - lena nokuthi sisho ukuthini? I Izingozi elintantayo exchange rate?

Floating exchange rate - kuba uyisehluleki iziphathimandla isimo Russian Federation of inqubo esemthethweni ye lwemali kazwelonke ngokumelene zezimali yamanye amazwe emhlabeni. Kumiswa yekuhambisa sandla izinga lokushintshisana is kuphela ngesisekelo Imithetho yokuhweba ukuze kwaneliswe isidingo iyona. Okwamanje, kuphela emazweni ambalwa ngempumelelo wayekwenza lokhu format inqubomgomo mayelana imali yayo. A umbuso kwande kwezomnotho - kusilinganiso adjustable.

Ngokucacile of elintantayo exchange rate bese fixed

Inguquko ukuze iflothi ruble kusho ukuyeka ukusetshenziswa olulodwa lwemali ephasishi ngaphakathi ukubaluleka lwemali kazwelonke iyahlukahluka icaciswe nohlaka. Lapho mkhawulo noma ephansi, amabutho ayo kuthiwa sandise inkonzo neziphathimandla yemali, okuyinto sibhekiswe eliletha ukuthula izinga lokushintshisana. Ukungenela ezimweni eziningi senzeka ngefomethi kokungenela. Emakethe evulekile ngenkuthalo ukusebenza operation ukuguqulwa ezifana kazwelonke iyunithi yemali nezinhlamvu eziphindaphindekayo.

Ngaphambi lapho kwemukelwa khona elintantayo exchange rate esivumelwaneni Bretton Woods ngo-1944 i-esinqunyiwe exchange rate uhlelo kunqunywa izibopho amabhange amakhulu ngokuzimela setha imali yayo, ukuthwala wonke umthwalo ukushintsha imali yangaphandle ngokuhambisana izingcaphuno.

I nemibi ngesilinganiso fixed uhlelo

Floating exchange rate yavunyelwa ngokomthetho ngo-1944, ngemva bokwenza sobala fixed exchange rate babonakala. Ububi main - kungcono imiphetho kanzima-aspect yentuthuko umnotfo wasekhaya tembuso kantsi esiqinile imikhawulo uyokuwa. Ukungabi yesibili elikhethiwe inqubomgomo - is nganhlanye izingcaphuno maqondana nomunye. It has a uxhumano ngqo imininingwane ukuthuthukiswa ngazinye isimo ngasinye. Ngokwesibonelo, kwelinye izwe kungase nobunzima obukhulu bezomnotho, kanti ezinye elinesimo impilo eqinile futhi okuqinile zezimali. Lokhu kungalingani eyayiyoholela lokho ezweni echumayo uzobhekana nezinselele eziningana ngenxa isimo okungekuhle ensimini ka ngomunye uRhulumende.

I nemibi elintantayo exchange rate

Ngakwelinye ihlangothi, lesi simiso elintantayo exchange rate, okwenza kungabi ngokuphelele zonke bokwenza ngenhla, nakho libhekene eziningi ezingezinhle. Kufanele ishiwo simo esishubile eliphezulu emakethe, okuyinto abahwebi abaningi ngokushesha liphendulwe inzuzo futhi ngesisekelo namaholo. umthelela Cijela engakhi lwemali iyehla iyenyuka kuthiwa eziphoqelelwe kuphela imisebenzi ukuthekelisa-ukungenisa ezimakethe zomhlaba jikelele.

Float ensimini ka-Russia

Okokuqala elawulwa lwemali umbuso seluqaliwe eRussia kusukela ngo-1999. Uthe lesi sinqumo senziwa ngenxa okuzenzakalelayo, okwenzeka ngo-1998. Ngemva izigigaba ezingezinhle emphakathini, uhulumeni waseRussia ukwaze ukuqeda ithonya elibi umnotho emkhakheni wezezimali zasekhaya. Kakade into ezifana nobhasikidi lwemali lapho dollar yasetshenziselwa Ngohlelo kanye euro yethulwa ngo-2005. Wavula up amathemba ezibanzi ukulawulwa lwemali wezwe. Uma ngibopha iye yenziwa of the ruble ngokumelene zezimali ezimbili esiqine emhlabeni, ukugxila umnotho wase-United States kuphela kweso buthaka.

Kuze 2009, uhulumeni wombuso ngenkuthalo wangenela emakethe lwemali ucaphuna kuphela kuleso simo, uma ukubaluleka iyunithi yemali iqala ngenkuthalo iphokophele umngcele ephasishi. Ngemva inhlekelele yembulunga yonke yezimali ngo-2008 yokuqeda umthetho. Uhulumeni ungakwazi angenele elibonakalayo ukunyakaza izingcaphuno kungakhathaliseki kukhona okwenzeka kwi-corridor noma ngaphandle kwemingcele yayo bona.

Patrimony

Okokuqala sokushintshela waseRussia ukuba elintantayo exchange rate okwaqala ngaleso sikhathi Isekela Usihlalo Ulyukayev CBR ngo-2005. Wanikela ukuthuthela lolu hlobo inqubomgomo esikhathini kusuka 2010 kuya ku-2015. Ngaleso sikhathi, i-rationality yoshintsho Inqubomgomo kwakubangelwa isidingo buthaka ruble ngenxa waba ukwanda okukhulu kwezincwadi ukuthekelisa Amaholo. Isinqumo sokuzindla endaweni uncharacteristic ngokuphelele ngenxa yezimo zomnotho samanje. Lokhu ukuzinza zezimali, futhi amanani aphezulu kawoyela kanye exchange rate ukuzinza kanye evumayo ibhalansi ukukhokhelwa.

Kungani elintantayo hhayi uhlelo lokushintshisana uye walungisiswa ngokwayo?

Floating exchange rate - lolu uhlelo ezibucayi ukuguqulwa komnotho, eyayibonakala okulungiselelwe ngenkuthalo kusukela 2012. Ukuqaliswa Its oyi-babelwe ekuqaleni 2015. Ngenxa ukushintsha uma ziqhathaniswa 2005 isimo: unswinyo ingcindezi yokwehla kwezinga ukubaluleka "igolide black", ukwehla kwamandla omnotho emnothweni, umphumela izenzo uhulumeni waphelela okuphambene. I-ruble buthaka liqhathaniswa ne-dollar futhi likhombise simo esishubile engakaze ibonwe. Ngesikhathi lapho isimo kuphela silungise inqubomgomo esebenzayo ye-Central Bank of Russia, kunalokho, yona yamukela isinqumo disengagement yakhe futhi ngenkuthalo igcina isikhundla salo. Uyini elintantayo exchange rate for the Russian, ukusho eziyinkinga, njengoba umphumela kusebenta kwaso ngeke ufinyelelwe.

Floating exchange rate kanye nokuntengantenga kwezomnotho

Floating exchange rate - kuba inqubomgomo wezimali ka isimo, okuyinto ayivunyelwe ukusebenzisa umnotho engazinzile. Lokhu kungenxa yokuthi leli eziholela ekuziphatheni uhulumeni kwandisa ingozi lwemali ukuntengantenga kuphela. Kuvele Eqinisweni ezithakazelisayo ukuthi iseluleko the best "izazi zomhlaba" ngubani ukweluleka uhulumeni, kodwa namhlanje etshiyeneyo kakhulu. Ikakhulukazi, ngokuvumelana ummeleli Investbank elintantayo exchange rate umbuso kuyinto nhlobo ngenxa unswinyo ezinzima phambili nguhulumeni sokukhokhwa kwesikweletu ngokwanele ezinkulu sangaphandle isimo yenkampani. Isazi lwezezimali kwenza ube nombono benokuqiniseka isimo kokuntengantenga kwezomnotho, kokubili ngokwezimali futhi intengo. Andrei belousov, bangazihluphi okuthunyelwe ka Assistant uMongameli kushiwo esidlangalaleni ukuthi, naphezu ukwethulwa elintantayo exchange rate, izwe lisuke selikulungele lokhu okwamanje eyanele. Ukukhathazeka ezihlobene yokuthi Ngaphandle kwalesi simo esishubile of the lwemali kungaholela destabilization ephelele zangaphandle ukuhweba ukuthengiselana ngenxa yokwehluleka ukufeza izibopho ngaphansi kwezinkontileka ngaphambilini ngemvume.

Isifaniso Kwenziwa onyakeni 1993, phakathi entwasahlobo ngenxa lapho kuwa ruble iningi izinkampani ezinkulu yezwe baphoqeleka ukuba anqamule izivumelwano eside futhi balahlekelwa kakhulu kakhulu. Njengoba izwe umkhuba ubonisa, ubungane elintantayo exchange rate - kuyinqubomgomo yemali ezingaba ukuzibonakalisa ngempumelelo kuphela kumazwe lapho umnotho okhulayo aphosekile, kanye umkhakha ungaphakathi bokuphila. The main ukuthekelisa lento kule ukukhiqizwa kufanele eyakhe.

Izinga Floating emhlabeni

elintantayo exchange rate umbuso isethwe% 34 nje emhlabeni. I sibalo sihlanganisa emazweni angu-65, 29 zazo ukuqhuba elintantayo exchange rate nezindlela zokusiza ezimweni ezingajwayelekile, futhi 36 uthi abaye bakwenza kumiswa lwemali kazwelonke baphokophelele kuphela kumiswa ezimakethe kanye supply. Ingabe Ohulumeni Banalo Lonke elintantayo exchange rate - into ukuthi seyenziwe ngokugcwele emazweni 17 we-European Union. Labo abasele abanga-emazweni angu-13, u-70% wamasheya ezimbonini ezahlukene ukuthekelisa. Uhlu uthi abaqhuba freestyle ebhukuda lwemali kazwelonke futhi onguchwepheshe umkhiqizo kawoyela, yiMexico futhi Norway kuphela. Lezi zifundo isiphethwe wayekwenza kanye abalingani yeRussia. Lena Turkey, Brazil naseNdiya. Lezi uthi abe elithambile kakhulu lwemali ukungenelela kwe-Central Bank. A elintantayo exchange rate, ngemiphumela lapho Ususithathile kakade ngenkuthalo ukuzibonakalisa, akuyona ngempumelelo, kusukela eRussia nobuntu evuthiwe exchange angaphandle umshwalense ingozi emakethe. Amafutha abathuthi eyodwa lunye abe ezinye izinhlobo zemali, ezinzile advantageously futhi isilungisiwe.

"Ngoba" isikhundla

Uma ucabangela umbuzo ukuthi kusho ukuthini le elintantayo exchange rate-Russia, kuyafaneleka ethi isimo awulona tenable. Central Bank akuyona izibopho zayo njengoba kuchaziwe emthethweni ngenxa izingcaphuno nsuku zonke kukhona ibanga elithileko. Plus isakhiwo sezimali ukuthi akanayo ukuchitha yegolide kwabo umdlalo nge befisa. Ngu ukunakwa ke ukunganakwa yokuthi befisa sikhula ngisho ubuso simo esishubile eqinile. Beka umdlali ezinethonya kunazo emakethe lapho sibhekene Central Bank namuhla kuhlala esikhulu, ochwepheshe kusukela izimali zakwamanye amazwe ukuqhutshwa, okuyinto ngumnikazi 72% cash flow. Yini esongela elintantayo exchange rate for the lizwe nabantu balo esikhathini esizayo, uthi kuyinkinga, ngoba ngokuya umuntfu kweyeme etinyatselweni letitsatfwa noma Ukungenzi lutho Central Bank.

imibono enganembile

Lokho kusho elintantayo exchange rate, futhi kanjani usizo kangakanani-Russia, utshele emfundweni ephakeme, naphezu kweqiniso lokuthi lonke ulwazi olunikezwa ayilungile. Kwelinye izincwadi idatha ezilandelayo ziyatholakala emnothweni: "A elintantayo exchange rate ngokuntula ibhalansi ukukhokhelwa ngeke siyithole kusilela ukuthi inemisuka ngabe ukunciphisa ukugeleza zamadola ensimini isimo. Izindleko lwemali kazwelonke ngeke ehlelekile yehle yalokho - ukunciphisa izindleko izimpahla zasekhaya, popularization yabo emakethe yasekhaya nokukhuphula nokuthengiswa. Ngaphezu kwalokho, ukukhula lemikhiqizo kuzokhulisa inflow zamadola uphoqe of currency angaphandle ngeke awe, lo ruble uzovuka. " Ngokwezinga elithile lokhu ilungile, kodwa, ucabangela lo mbuzo, kumelwe sicabangele ukuthi umthetho kubalulekile emazweni letiphakela izimpahla, kwakheka izindleko okuyinto kuphela kusuka izindleko emakethe yasekhaya. Chaza ukuthi yini esongela elintantayo exchange rate, kuyoba lula uma ucabangela ukuthi ukulandwa isimo ku-72% siqukethe uwoyela negesi, futhi kwakhiwa ngokuphelele izindleko energy emakethe ngamazwe. Ngenxa yalokho, "khulula ruble ezintantayo" Awukwazi kuholele ukwanda lwemali kazwelonke, noma likhuluma ngokwanda kwabantu abathola amavolumu ukuthekelisa. Ukuqondisa izinzuzo komgomo wokuboleka amabhange ngezimali ehlangothini lwawo, Russia kufanele ehlukahlukene yayo nokuthengiswa we ngesilwane esifuywayo lezimpahla, kunokuba ngozakwethu izwe ukuthi ukukhuthalele ezenziwa phansi benze sengathi diversification.

Yini okufanele sikulindele esikhathini esizayo?

A elintantayo exchange rate, ngemiphumela okuyizinto ayikaziwa, kuvula amathuba Central Bank ngokuya ukugcwaliseka ukungenelela. Kulokhu, IMF washo ngokucacile izindinganiso Central Bank inelungelo ukuba angenele kungekho izikhathi 3 ezingaphezu kuka ezinyangeni ezingu 6, isikhathi akufanele kube izinsuku ezingaphezu kwezingu-3. isiqondiso ezinqala ukuzinza lwemali kazwelonke uzokwazi ukubamba eliphansi.

Central Bank of Russia ngenkuthalo lisebenzisa senzalo ngoba isiqondiso yemali. Lwemali Ukuqiniswa wenza nokwehlisa inani layo, okuyinto kuholela ekwakhekeni ephezulu zezimali ingozi futhi kuthiya komnotho isimo. Ukubolekwa ezikhulayo, ekubeni umthombo ezingafinyeleleki for imikhakha yezomnotho kokutshalwa kwezimali. Uma ucabangela umbuzo ukuthi kusho ukuba elintantayo exchange rate, singasho ngokuphepha ukuthi lo mkhuba, eqinisweni kanye ukwehla Yiqiniso, - ngemiphumela inqubomgomo Central Bank. Imiphumela - ke kuzuba emakethe lwemali futhi enolaka kwemizwelo zokucabangela.