The G20 has agreed to refrain from premiditated currency devaluation

The G20 countries have agree to market equilibrated systems of currency exchange, based on the basis of economy and to refrain from the competent devaluation of currencies, states the communique after the meeting of financial ministers and heads of Central Banks of G20 countries in October. Countries with developed economies including countries with reserve currency will follow oversized volatility and chaotic movement of currency exchange rates. According to G20, these measures will help to decrease a risk of important changes in capital flows that are faced by some developing countries.

Besides, the G20 countries have intention to apply a policy for reducing oversized disproportions and maintaining of current balance of payments on the accepted level. The level of misbalance is supposed to be established within the framework of common process of evaluation based on the peculiarities of national and regional economies.

The G20 countries have agreed to continue discussing the problems of money-credit policy that would contribute to the stability of prices. The parts also plan to activate the effort for creating stable and effective currency system.