Thursday, Apr 18 2024 | Time 07:26 Hrs(IST)
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World


Japan's finmin welcomes G20 support for FX market stability

CHENGDU, China, Jul 24 (Reuters) Japanese Finance Minister Taro Aso welcomed on Sunday that G20 finance leaders reaffirmed their support for currency market stability in a communique issued at the end of a two-day meeting.
Aso, speaking to reporters after the G20 meeting in the southwestern Chinese city of Chengdu, voiced concerns about declines in the Chinese yuan, saying that it was undesirable for rapid currency movement and that a weaker yuan was not necessarily good for China's economy.
A senior finance ministry official also said Japan fully supports the G20 stance against competitive currency devaluation.
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