Abstract

The accent is put on the institutional and functional characteristics of the three currency boards as well as on the historical and political context of their implementation. The tasks of the investigation can be summarized down to two: descriptive - systematizing and summarizing the facts concerning the functioning of the three currency boards; theoretical - the advancement of some hypotheses concerning the functioning of the currency boards. Special attention is paid to the "automated mechanism" of the currency board as an advantage compared to the traditional central bank.