Functioning and Development of the Foreign Exchange Market of Ukraine in the Context of Global Financial Transformations

The article analyzes the current state and development trends of Ukraine’s foreign exchange market in the context of global financial transformations and prolonged wartime conditions. It examines the stages of the currency system’s formation, the evolution of exchange rate policy, the dynamics of key macroeconomic indicators, and mechanisms of currency regulation. The role of the National Bank of Ukraine in market stabilization and exchange rate smoothing is highlighted. A comparative analysis of international models of currency regulation is conducted, along with a characterization of household and banking sector behavior. The article substantiates the need for gradual market liberalization, technological innovation, strengthened trust in the national currency, and integration into the global financial system.