April 22, 2017 6:30 am JST

Finance leaders reaffirm commitment to stable currencies

Japan's Aso defends core principle at Group of 20 meeting

MOTONAO UESUGI, Nikkei staff writer

WASHINGTON -- Finance chiefs and central bank governors of the Group of 20 major economies wrapped up a two-day meeting Friday after reaffirming their commitment to stable currency markets.

Because the meeting was conducted only a month after the last conference, no joint communique was released. At the March meeting, the first for the U.S. under President Donald Trump, members dropped the customary anti-protectionism line in their joint communique, signaling discord among the participants.

Although trade disputes colored March's meeting, the resulting communique still stated that "excess volatility and disorderly movements in exchange rates can have adverse implications for economic and financial stability."  

Japanese Finance Minister Taro Aso led the charge to uphold that principle during Thursday's discussions, calling the reconfirmation of that commitment last month a significant achievement. Other finance leaders echoed that view verbally, marking the closest they would come to an agreement, short of an official joint statement.

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