G7 welcomes China backing for flexible currency

The G7 on Saturday reiterated its caution against “excess volatility and disorderly movements in exchange rates” in a brief statement at the close of their summit in Istanbul.

The finance ministers and central bank governors of the world’s richest nations also said China’s commitment to a flexible currency – which they welcomed – “should lead to a continued appreciation of the renminbi in effective terms and help promote balanced growth.” Source