ПОЛИТИКАТА НА ДЕВИЗНИОТ КУРС ВО УСЛОВИ НА ФИКСЕН РЕЖИМ ПРИ НЕГОВОТО ФОРМИРАЊЕ
The latest situation with foreign trade activities of the Republic of Macedonia is raising the question of future devaluation of it’s currencythe denar. The difference between the export and the import is resulting in permanent increasement of deﬁ cit in the trade balance and so in the deﬁ cit on the current account in the balance of payments. Therefore, through the economy’s and society’s sircles the trust in the home currency is questioned, reasonably emplafying the need for changing the currency exchange rate of the denar in order to improve the competiveness of domestic economy and the export performances. In the text bellow, I will try to focus on the acctual situation of the foreign trade sector and the denar’s ﬁ xed currency exchange rate policy. For that goal, essential issues will be explained such as the currency exchange rate, the ﬂ uctuating currency rate, the ﬁ xed currency rate, and at the end I will try to answer the question: Is the acctual ﬁ xed currency exchange rate of the denar justiﬁ ed or not concerning the foreign trade deﬁ cit’s dimensions.