Oct. 15 (Bloomberg) -- Chinese deputy finance minister Zhu Guangyao said the Group of 20’s statement on currencies is “balanced.”
The G-20 communique issued after a meeting of finance ministers and central bankers in Paris today describes the currency issue in a “very comprehensive and balanced way,” Zhu said in an interview. The discussions were “important preparation” for a G-20 leaders’ summit on Nov. 3-4, he said.
The G-20 finance chiefs left their comments on currencies broadly unchanged in today’s statement, repeating their support for “market-determined exchange rates.”
“We reiterate that excess volatility and disorderly movements in exchange rates have adverse implications for economic and financial stability,” they said.
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