Institutional Environment of the Foreign Exchange Market of Ukraine andits Evolutionary Development

Abstract

The article examines the institutional environment of the foreign exchange market of Ukraine. Scientific approaches to the essential understanding of the concepts «institutes» and «institutions» are generalized. The author's approach to the definition of institutional units of the foreign exchange market, which are part the institutional environment, their classification and functional purpose is proposed. The evolutionary development the domestic foreign exchange market is considered, seven characteristic stages are singled out, which are analyzed in detail. Considerable attention is paid to the consideration of currency legislation since the proclamation of Ukraine's independence, namely: its changes and the basic principles of the foreign exchange market. The following methods of scientific knowledge were used in the research process: analysis and synthesis, logical induction, graphic and historical methods.