Asean Plus 3 shares concerns about excessive exchange rate fluctuation

TOKYO – Japan, China, South Korea, and the Association of Southeast Asian Nations shared concerns Friday about excessive exchange rate fluctuations caused by speculation amid the continued depreciation of their respective currencies against the U.S. dollar in the foreign exchange market. The Asean Plus Three group held a meeting of their finance ministers and central bank governors in Tbilisi and adopted a joint statement that included “heightened foreign exchange market volatility” as a risk to the regional economy Speaking at a press conference, Finance Minister Shunichi Suzuki emphasized that exchange rates should move stably. “Excessive moves are undesirable,” he said. […]…

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