THE BANK OF RUSSIA AS A BODY OF CURRENCY REGULATION AND CURRENCY CONTROL: SOME TOPICAL ASPECTS

Abstract

The article analyzes such public functions of the Bank of Russia as currency regulation, currency control and the right to set standards in the relevant area. The peculiarity of the status held by the Central Bank of the Russian Federation in the sphere of currency relations is determined by the fact that it is both the body of currency regulation and a body of currency control. The activity of the Central Bank of Russia in the currency sphere is closely connected with its main objectives, in particular, protection and ensuring the stability of the ruble, ensuring the stability and development of the national payment system, ensuring the stability of the financial market of the Russian Federation. The author provides the definitions of such concepts as currency intervention, exchange rate, currency restrictions. The powers of the CBR as a currency control body are considered. The question of the legal nature of regulatory acts of the Central Bank of the Russian Federation in the field of currency relations is raised. The article concludes that in the activity of the Bank of Russia combines the functions of both organizational-legal and law-establishing and law-enforcement character that can lead to problems connected with the conflict of norms, powers and interests.

Keywords

• central bank
• currency
• currency regulation
• exchange controls
• exchange rate
• currency intervention
• currency restrictions