Japan explained to G7 yen‘s ’somewhat rapid declines – Finance Minister Suzuki

div classBodysc17zpet90 cdBBJodivpBy Leika Kiharap

pTOKYO Reuters – Japanese Finance Minister Shunichi Suzuki said on Thursday that he explained to his G7 counterparts the yens recent “somewhat rapid” declines.pdivdivdiv classBodysc17zpet90 cdBBJodiv

p“I believe the G7s basic thinking on exchange rates remains intact,” Suzuki told a news conference after attending the meeting with his Group of Seven counterparts, held on the sidelines of the International Monetary Fund gatherings.p

pCurrency moves, however, were not the main topic of the G7 finance leaders‘ meeting, which focused on discussions over the global economy and Russia’s invasion of Ukraine, he said.p

pSuzuki said rapid currency moves were undesirable, when asked about the yens recent decline to twodecade lows against the dollar.p

pBank of Japan BOJ Governor Haruhiko Kuroda, who also attended the G7 meeting held in Washington D.C., said excessive exchangerate volatility could affect business activity.p

p“Its desirable for exchange rates to move stably, reflecting fundamentals,” Kuroda said. “The BOJ will carefully watch how currency moves could affect Japans economy and prices,” he added.p

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pp Reporting by Leika Kihara Additional reporting by Tetsushi Kajimoto Editing by ChangRan Kim & Simon CameronMoorep

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