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G-20 Won’t Devalue Currencies

As U.S. lawmakers grow frustrated with the rising dollar, G-20 finance ministers pledge not to devalue their currencies to stimulate growth.

By Jeanna Smialek and Theophilos Argitis, Bloomberg | Updated on February 10, 2015

Group of 20 finance chiefs stood by a two-year pledge not to resort to currency devaluations to spur economic expansion, signaling ease with the dollar’s recent surge and declines in the euro and the yen.

“We will stick to our previous exchange rate commitments and will resist protectionism,” the G-20s finance ministers and central bankers said in a statement after the talks ended.

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