Russia To Stand Firm at G-20 on Currency Manipulation

Russia wants to head off a global currency war by pushing policy makers to make stronger commitments against exchange-rate manipulation as Group of 20 officials search for common ground in Moscow this week.

The G-20 should have more “specific” language opposing exchange-rate interference in the communique that will be issued after the two-day talks among finance chiefs that end Feb. 16, Russian Finance Minister Anton Siluanov said yesterday. Russia holds the G-20’s rotating presidency this year.

“The G-20 countries have always held the position that currency policy should be based on market conditions,” Siluanov said in an interview yesterday with Bloomberg Television. “I think we should take a more specific stance on this.”


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