• etc...
• exchange rate
• inflation
• macroeconomic stability
• trade balance

In this paper it is given the role of the exchange rate as a factor of stability. The subject of study is its effect on important macroeconomic variables, which leaves always space for discussion. Therefore in this paper it is given the role of the exchange rate on the trade balance and inflation.
As it is emphasized in the literature, foreign policy is often pursued by countries in order to regulate the trade balance deficits, but we should keep in mind the effects that creates this policy in order not to face its negative side. While analysis of the effect of exchange rate on inflation showed a negative relationship to the real exchange rate on inflation and the existence of a long-term relationship.