The book examines the processes of integration and competition in modern international currency relations, examines the mechanisms of the EU Economic and Monetary Union, analyzes the prospects for the euro in the world. Significant attention is paid to the problems of exchange rate formation with varying degrees of internationalization, the specifics of the currency markets of countries with economies in transition. A special section is devoted to the problems of Russia, the fate of the Russian ruble, as well as the formation of a consolidated financial space in the CIS.