New Balance of Power in the Global Foreign Exchange Market

  • Kulyash Jazikbayevna BERTAYEVA
  • Darkhan Onaltayevich ONALTAYEV
  • Aida Oryntaevna ZHAGYPAROVA


The present paper gives an analysis of the current situation in the global foreign exchange and financial markets,
which are directly related to the volatility of the reserve currency – the US dollar. The purpose of this article is to
make changes in a coherent theoretical concept of formation and development of the global foreign exchange
market, to develop the main directions for the reorganization of the global monetary system and to elaborate the
suggestions about the present place and role of the reserve currency. Currently, many countries, such as Russia,
China, Brazil and others, are pursuing their monetary policy, which consists in abandoning the US dollar in
international trade transactions and creating their own monetary union. On the one hand, this research
emphasizes the possibility of the collapse of the US currency and the development of a new reserve currency,
and on the other hand – proves the strengthening of the US dollar, since the US has never been concerned about
external obligations due to the status of its currency as a reserve currency. Therefore, there is a dilemma that is
difficult to solve without the recommendations of the IMF and other international organizations.
How to Cite
BERTAYEVA, Kulyash Jazikbayevna ; ONALTAYEV, Darkhan Onaltayevich ; ZHAGYPAROVA, Aida Oryntaevna . New Balance of Power in the Global Foreign Exchange Market. Journal of Advanced Research in Law and Economics, [S.l.], v. 7, n. 2, p. 223-231, may 2016. ISSN 2068-696X. Available at: <>. Date accessed: 14 apr. 2024.
Journal of Advanced Research in Law and Economics