G7 calls for increased exchange rate flexibility

G7 finance ministers and central bank governors have called for more flexibility in international exchange rates and warned that excess volatility would restrict global growth.

"We emphasise that more flexibility in exchange rates is desirable for major countries or economic areas that lack such flexibility to promote smooth and widespread adjustments in the international financial system," the G7 said on Saturday 5 February in its communique after meeting in London.

The statement from the grou

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