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The G20 played down the threat of a currency war (Photo: Images_of_Money)

G20 rebuffs France on euro exchange rate plan

Leaders of the world's richest economies at a G20 summit in Moscow have vowed not to start a currency war by managing their exchange rates.

In the summit communique released on Saturday following talks by finance ministers and central bankers (February 16), G20 countries "reiterate [their] commitments to move more rapidly toward more market-determined exchange rate systems and exchange rate flexibility to reflect underlying fundamentals, and avoid persistent exchange rate misalignments....

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Author Bio

Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.

The G20 played down the threat of a currency war (Photo: Images_of_Money)

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Author Bio

Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.

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