In everyday discussion exchange rate policy is a frequent theme, the ratio of domestic and foreign currency, is it real or not, will there be change and which changes in the currency will come. Some economists believe that exchange rate is the most important economic-political variable, because it affects on all macroeconomic trends. In this paper analyzes the exchange rate system of new member states of the European Union, starting from the beginning of the nineties and continuing until today. The countries of Central and Eastern Europe, the transition to a market economy, started the development which is based on foreign savings. This has led to overvaluation of the domestic currency, a large current account deficit and external dept of country, so many countries came to difficult economic situation. Aim of the dissertation is to inform about exchange rate regimes, their advantages and disadvantages, determining factors influencing the choice of exchange rate regime, getting to know the exchange rate policy of the new EU member states, the criteria of joining the Economic and Monetary Union and consequences of taking the euro as their own currency for selected countries EU member states. Were analyzed separately New Member States that have adopted the euro (Cyprus, Lithuania and Slovenia) and the countries that still maintain their independent monetary policy and sings in the near severity common currency (Croatia and Bulgaria).