The foreign exchange rate as an economic policy variable that is present in the entire economy and has multiple importance. The importance of the exchange rate can be observed through multiple levels, from an individual (e.g. foreign currency clause borrowing) through a multi-national company (remittance to a subsidiary, financing decisions, investment, etc.) to the entire economy (eg competitiveness of products). The movement of the exchange rate affects the pace of economic development of the country and is taken as an indicator of economic strength and stability. Determinants of exchange rate movement is the subject of this paper. The aim of this paper is firstly to explain theoretical and then conduct the regression analysis of the impact of a single variable on the exchange rate movements for the three most important currency pairs - USD / EUR, USD / GBP and USD / JPY in the period between 2002. and 2017., using monthly data. The significance of the determinants of the exchange rate movement doesn't have to be the same for all currency pairs. Hypotheses H1 and H2 are partially confirmed by the results of the regression analysis. There is a statistically significant and positive link between interest rates and exchange rate movements for all currency pairs and also, there is a statistically significant positive correlation between the VIX index of fear and the USD / EUR currency pair. Furthermore, H2 hypothesis is also partially confirmed because results show that there is a statistically significant and negative link between the oil price movement and the USD / EUR and USD / GBP currency pairs. The consumer confidence index (CCI), inflation (CPI), and the index of industrial production are regressor variables that have shown statistically insignificant result in all tested models.