COMPETITION BETWEEN THE DOLLAR AND EURO: RESULTS OF REGRESSION ANALYSIS FOR UKRAINE
DOI:
https://doi.org/10.35774/jee2024.02.306Keywords:
US dollar; euro; monetary system; exchange rate; reserves; regression; dispersion.Abstract
This study investigates factors influencing the stability of reserve currencies. Analysis of Ukraine’s economic indicators reveals a strong relationship between GDP, CPI, exports, imports, and exchange rates. Despite 2022 being a turbulent year for the euro, the US dollar remains the primary global reserve currency. Factors contributing to the dollar’s dominance include its stable value, the size of the US economy, and geopolitical power. Effective management of the interaction between the dollar and euro is crucial for global economic stability and growth. Both currencies can coexist and thrive, with the euro potentially contributing to a more balanced global monetary system. Correlation-regression analysis of their competition reveals significant relationships, underscoring their impact on global economic processes.
JEL: C30; E40; E50; F31.
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