Globalization of the Monetary System

Abstract

The article disputes on future development of the international monetary system under conditions of modern globalization. The author asserts that global- ization is an objective process, and thus, the international monetary system con- tinues its logical development from the universal money commodity equivalent (gold) through multiple reserve (international) currencies back to the world money of higher order. The intermediate stage of this process can be the crea- tion of target currency zones with leading currencies, one example of which is the single European currency – the Euro. In this context, the question about fur- ther development of monetary systems of separate countries (including Ukraine) takes on special importance.