The exchange rate appears to be an effective instrument for influencing a country's import and export performance. How was this idea formed and to what extent is it consistent with other provisions of economic science? To what extent does the dynamics of foreign trade of the leading countries of the world and their exchange rates confirm this situation? Does the periodic devaluation of the ruble help Russian exports? These and other issues related to the title are addressed in this paper. In order to draw his conclusions, the author conducted a detailed study of bilateral trade of 15 leading economies, and also separately analyzed Russian statistics.