National currency rate and dynamics of world exports

Abstract

The article deals with strengthening role of developing countries in international exchange and analyses the relationship in exchange rates of the countries and the dynamics of international trade. Attention is paid to the exchange rate arrangements of the countries. The calculations of the degree of the official exchange rate deviations from the par values of developed and developing countries are given. Th e author shows that developing countries, thanks to undervalued currencies, were able to show high rates of export growth for a sufficiently long period of time. Discontent generated in the developed countries and the subsequent sanctions are called «currency wars».