Currency volatility a growth risk says G7

Exchange rates should be flexible and avoid excess volatility, the Group of Seven (G7) industrial nations said at the weekend.

"Excess volatility and disorderly movements in exchange rates are undesirable for economic growth,'' the G7 finance ministers and central bankers said in a statement at the end of their two-day meeting in Boca Raton.

"We emphasise that more flexibility in exchange rates is desirable for major countries or economic areas."

Japanese finance minister Sadakazu Tanigaki said