Genesis of modern theories of exchange rate

In the article genesis of modern theories of exchange rate is analyzed, to which three theoretic approaches of the western economic schools embracing classic, nominalistic and Keynesian underlie the formation and evolution. Also, in the article basic theories of exchange rate are examined including the theory of purchasing capacity parity, the theory of floating exchange rate, the theory of regulated exchange rate, of fixed parities and rates. Macroeconomic pre-conditions of theories origin which analyse exchange rate in the terms of "reserve" are examined.