The master thesis discusses the role of central banks and its goal of achieving the desired macroeconomic developments and defines the approach to solving business schools, including monetary policy instruments used to achieve those goals. It also deals with the formation of exchange rates and exchange rate systems in the world. Effects of monetary policy and other economic factors are then shown on the development of CZK from 2000 until the present, using a fundamental analysis is suggested by its potential development in the near future. Using the calculation of forward rate is pointed out the advantages and importance of this tool with respect to exchange rate volatility and its possible negative impact on businesses. The thesis also evaluates the process of adopting euro currency in the Czech Republic through the evaluation of compliance with the convergence criteria (sometimes called Maastricht criteria), which formulates Article 140 of the Treaty on European Union membership revenues resulting from the Czech Republic and also by analyzing the current fiscal situation of troubled member states which may have a future common European currency, the negative impact.