TOKYO, Sept 16 – Japanese Finance Minister Sadakazu Tanigaki said on Friday that foreign exchange issues including China’s yuan may be discussed at a meeting of the Group of Seven next week.
Tanigaki said it may take a while for China to become familiar with its new currency regime, but he hoped it would do so soon.
“It will take a certain amount of time before China familiarises itself with managing the new system,” he told reporters. “We do strongly hope China familiarises itself with the management quickly.”
Finance ministers and central bank chiefs from the G7 nations meet in Washington next week, and financial markets are focusing on whether the group will call for more flexibility in China’s yuan after Beijing scrapped its dollar peg.
Communiques issued after every G7 meeting since a February 2004 gathering in Boca Raton, Florida, have kept the same wording on currency flexibility, saying exchange rates should reflect economic fundamentals and excessive volatility is undesirable.
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