Валутнокурсовите режими по пътя към еврото
Exchange-Rate Regimes on the Path to Euro

Summary/Abstract: An attempt is made to outline the role and importance of exchange rate regimes on the way to the Euro. The differences between the concepts “currency regime” and “exchange rate regime” are clarified. The types of currency regimes and exchange rate regimes are systematized. The relationships of exchange rate regime with macroeconomic tools and the Balance of Payments are analyzed. The specificity of choosing an exchange rate regime is revealed. The impact of exchange rate regimes on the economies of the new member states is highlighted. The Bulgarian currency board arrangement is reviewed in the context of the future membership of Bulgaria in the Euro area.

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