World currencies as foundations of capitalism in the process of globalisation

Abstract

The aim of the article is to identify the stages of development of the
American dollar and three currencies orbiting it (the euro, pound sterling and
Swiss frank) with the use of econometric methods and to make comparisons
in order to highlight the mechanisms of long-term changes in the value
of world money. The author analysed not only the dynamics of currency
exchange rates in time but also reason-effect relationship of the changes.
This was used to develop the dollar’s value forecast until 2024 and the euro’s
value one until 2020.