G8 pressures Asia to adopt flexible FX

Finance ministers from the G8 rich nations on Saturday 11 June urged emerging Asia to adopt flexible currency policies, but did not mention currencies in their final communique.

The ministers from Group of Seven industrialised nations plus Russia (G8) used a breakfast meeting with their counterparts from Brazil,India, China and South Africa to maintain up pressure on developing Asian economies to adopt market-based exchange rates.

"The convention is that when G7 meetings happen with finance min