G20: No to 'currency war' | Bangkok Post: business

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G20: No to 'currency war'

MOSCOW — Finance ministers and central bankers from the world's 20 leading industrial and developing countries pledged on Saturday not to target their exchange rates for competitive purposes.

The two-day meeting in Moscow ended with a joint communique that included a promise that the G20 members would "refrain from competitive devaluation" and "resist all forms of protectionism and keep our markets open".

"We reiterate that excess volatility of financial flows and disorderly movements in exchange rates have adverse implications for economic and financial stability," the statement said.

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  • borrocks

    AfghanistaPost : 220

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    Discussion 1 : 17 Feb 2013 at 12.071

    idiotic ..this started to become more prevalent almost 2 years ago, US, GB, EU, Brazil, Argentina, Japan, Vietnam and last week Venezuela are all devaluing and debasing their Currency's ...How many more are also partaking silently

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