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Modern global economy is witnessing the creation of brand-new processes which were not seen before. Although the forecasts of economic growth in 2023 are being revised in the direction of improvement, nevertheless, a number of new problems require a lot of attention. Much of what is happening now is unprecedented – in particular, large-scale sanctions of the Western countries against Russia and China, changing processes in commodity markets, increased fragmentation of world economic relations, increased activity of regional associations of countries, etc. All this is complemented by high uncertainty in the geopolitical arena, which makes the problems much more acute and their solution even more difficult. Regulators and businesses in all countries are forced to shape their approaches taking into account the ongoing changes, largely changing the long-standing traditional algorithms for their solutions. The article shows a number of new problematic nodes that have been forming in the world in recent years. The sanctions policy of the Western countries against Russia, which has intensified since 2022, has directly or indirectly affected almost the entire world, increasing trends towards fragmentation. In Russia, under such conditions, significant changes are also required in domestic economic policy. The most important role in this could be played by monetary policy, changes in which may contribute to increasing the strength of the internal foundations of growth and transformation of the economy. At the same time, the changes may lead to a reduction in dependence on external financial markets and the external environment in general

The new trend of global economic growth for now appears unstable. A certain threat to stability is represented by continuous growth of the world financial markets without significant correction, which leads to overheating of certain indicators. Besides, the growth of interest rates in the developed markets threatens the stability of currency in countries with developing markets, especially where floating exchange rate has been introduced. The risky situation is not helped by the tensions in geopolitics. External shocks will inevitably transfer on the internal economics of Russia due to free floating of the ruble. Currency is a significant channel of such transfer: any deterioration of situation in Russia would contribute to volatility of currency market and depreciation of ruble. The article analyzes the specifics of currency sphere in Russia today, studies negative and positive sides to ruble depreciation. The quality improvement and formation of comparative conditions in the currency market of Russia is necessary for stability and increasing rates of economy growth. Most branches of Russian economy benefit from stable ruble exchange rate. Adding to that, the expansion of economic sanctions announced by the USA to come into effect at the end of summer 2018 can contribute to volatility and further depreciation of the ruble. The Bank of Russia should take active measures towards ruble stability, prevention of depreciation and minimization of negative consequences for Russian economy. The article suggests several such measures to provide stability and prevent the growth of currency speculation: low currency position, lower leverage, Tobin tax, etc.