G20 finance ministers urge more flexible exchange rates in Asia
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BERLIN  - The world's top finance officials stopped well short of expressing serious concern about the plunging U.S. dollar at a weekend meeting, although they issued a call for "steps toward greater exchange-rate flexibility" in Asia's emerging economies.
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EU finance ministers have called on the United States to do more to halt the steep fall of the dollar against the euro and other currencies.
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The G7 free-market powers agreed  to single out China again in repeat appeals on Saturday for  flexible exchange rates, but Japan's tumbling yen escaped a  similar fate despite mounting concern in Europe.
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The Group of Seven (G7) industrialised nations urges China to be more flexible on its currency.
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China came under renewed pressure Saturday from the Group of Seven to make its yuan more flexible, while Japan emerged from the meeting without a public scolding, despite criticism beforehand that its weakened yen was hurting other economies.
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A communique from the G20 group of rich and developing countries made no explicit reference to currency swings on Sunday, despite mounting concern in Europe and Japan over a slide in the U.S. dollar to multi-year lows.
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Finance ministers and central bank chiefs from the world's 20 biggest economies voiced concern on Saturday over sudden currency swings, venturing for the first time into the territory of the more influential ...
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THE Group of 20 finance chiefs agreed yesterday that &quot;abrupt changes&quot; in foreign exchange rates and oil prices were unwelcome but showed no appetite for intervention to strengthen the US currency.
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Chinese officials reiterated their country would move toward a flexible foreign exchange rate, but offered no new specifics on the timing in a joint statement issued on Friday after talks with high-level US officials.
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China pledged to move toward a flexible exchange rate, the US Treasury Department said, hours ahead of a key meeting of the world's top finance chiefs who are expected to press Beijing to ease its currency policies.
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The OECD called on Tuesday for the  Federal Reserve to tighten interest rates a bit more as it  projected U.S. economic expansion was set to stay solid this  year before easing slightly in 2007.
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India's finance minister has called on banks to lower interest rates to keep Asia's third-largest economy expanding strongly amid fears aggressive monetary tightening could slow growth.
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Saving world trade talks and bolstering  global financial systems against fiscal crises were the focus  of finance ministers of the United States, China and other  Pacific Rim economies meeting in Vietnam on Thursday.
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BERLIN: A communique from the G20 group of rich and developing countries made no explicit reference to currency swings on Sunday, despite mounting concern in Europe and Japan over a slide in the US dollar to multi-year lows.
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The Group of Seven rich nations urged   China on Saturday to let its currency rise faster to help ease   perilous imbalances in trade and backed a rise in the yen to   reflect Japan's strengthening economic recovery.
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The IMF says China must not slacken efforts to ease too-rapid growth and urges it to reform exchange rates.
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China says it will move toward a flexible exchange rate for its currency, but there is no word on how long such a transition will take.