Mechanism for Managing Currency Risks in the Economic System

The article considers the International Outsourcing concept and examines the features of currency risk management in organizations. The paper analyzes the principles and definitions set out in regulations, research papers on financial risk, and international outsourcing. The author considers the organization as an economic system, as well as features of currency risk management based on an integrated approach. The process of currency risk management is presented by the author as a mechanism that takes into account the complex interaction of all elements of the infrastructure and the risk management process. The author also suggests using a step-by-step assessment of currency risk in the process of managing it in the organization and dividing the risk according to its relevance, depending on the situation. The work is of methodological value for organizations included in the economic system and operating on the basis of international outsourcing and participating in the international division of labor, regardless of the mechanism of formation of the economic system.