Analysis of the impact of foreign exchange regulation on the efficiency indicators of foreign economic activities of enterprises

Abstract

The article examines the conceptual foundations and practical aspects of currency regulation in the context of foreign economic activity, in particular in Ukraine. The purpose of the study is to analyze the mechanisms of currency regulation, their impact on export-import operations, investment attractiveness and competitiveness of Ukrainian enterprises in international markets. The work uses a systematic approach, methods of analysis, synthesis and comparative analysis, as well as empirical generalization. The theoretical basis is based on modern scientific literature and regulatory legal acts, in particular, resolutions of the National Bank of Ukraine. It is shown that currency regulation plays a key role in ensuring financial stability, managing currency flows and supporting economic recovery in conditions of military challenges. It is established that the gradual liberalization of currency policy, in particular the introduction of investment limits from May 2025, contributes to the simplification of cross-border operations, increasing access to foreign currency and attracting foreign direct investment. The study developed a comprehensive system for assessing foreign economic activity, including absolute indicators, such as export and import volumes, total transaction values; relative indicators, including price indices, volume, and trade dynamics; structural indicators, such as commodity and regional trade structure; and efficiency indicators, in particular, currency efficiency, profitability of operations, which provide a comprehensive analysis of the scale, dynamics, and competitive positions. It was found that currency restrictions worsen the financial results of foreign economic activity of enterprises due to increased operating costs and regulatory instability. Recommendations were proposed to improve currency policy, in particular, simplifying banking procedures, expanding profit repatriation to 20% of current limits, and increasing the transparency of regulatory mechanisms, aimed at ensuring economic growth, financial stability, and strengthening Ukraine’s investment attractiveness in the face of global challenges.