| المستخلص: |
Foreign capital is an important factor in the economic development process, making most of the world, including the rich nations of the world to attach the utmost importance to attract part of the foreign capital that have become the core of their movement at the present time, the flexible movement. In parallel with the evolution and expansion of global markets for capital proven fact that the flow of the latter towards the poor countries still represents only a little less. Given the importance of foreign capital participation in the development process adapted Governments in the developing countries of financial and monetary policies with the requirements of the new global financial situation and stepped up to dedicate economic policies encourage foreign investors to settle their investments in these countries. One of the most important of these policies exchange rate regime, which is the first link collects and reconciles the foreign investor or lender and the poor countries, the official intervention in the foreign exchange market remains pursuant risky, especially in developing countries, which are characterized by central Bank little merit and the Centre for weak liquidity and external interference normally be costly and fails to achieve the desired objectives. The present article is to address the challenges imposed trend cases it is not possible to avoid them by opening up the national economy to the outside world and the growing regional competition to attract foreign capital. And assess the feasibility of the prevailing exchange rate system - a system of floating orbit - to attract foreign capital and knowledge of the privilege system and the installation of this system in order to know the best suited to the challenges and requirements of the new phase using a quantitative method according to the technical of cointegration \
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