International Conference on Eurasian Economies
11-13 June 2019 – Famagusta, Turkish Republic of Northern Cyprus
Paper properties
Paper ID : 2266
Status : Paper published
Language : Turkish
Topic : International Trade and Globalization
Presenter: Asst. Prof. Dr. Junus Ganiev
Session : 1C Para ve Bankacılık
Prospects for Exchange Rate Cooperation in the Eurasian Economic Union
Avrasya Ekonomik Birliği’nde Döviz Kuru İşbirliği Perspektifi
- Asst. Prof. Dr. Junus Ganiev (Kyrgyz-Turkish Manas University, Kyrgyzstan)
- Asst. Prof. Dr. Damira Baigonushova (Kyrgyz-Turkish Manas University, Kyrgyzstan)
Abstract
Foreign exchange risk is one of the main factors affecting foreign trade and foreign investment activities. The exchange rate instability in the Eurasian Economic Union members and in Turkey, which is one of the Union’s major economic partners, constitutes one of the major economic problems. This situation inevitably affects the foreign economic relations of the countries. Therefore, the leaders of most countries such Turkey and Russia are encouraging to use national currencies in economic relations to reduce the dependence on the dollar, to provide stability in the foreign exchange market and to reduce the risk of exchange rate. One of the basic conditions for the success of these initiatives is the stability of exchange rates between national currencies. This study examines the fluctuations of exchange rates among national currencies of EAEU members and Turkey. The ERM implementation of the European Union and its applicability will be discussed as a solution.
JEL codes: F31, F36, F15
Ganiev, Junus, Baigonushova, Damira (2019). "Prospects for Exchange Rate Cooperation in the Eurasian Economic Union" in Proceedings of International Conference of Eurasian Economies 2019, pp.271-278, Famagusta, Turkish Republic of Northern Cyprus.
DOI: https://doi.org/10.36880/C11.02266
Session 1C: Para ve Bankacılık
