Korea Says Exchange Rates Will Figure at G20

  • VOA News

    October 08, 2010 14:10

    Host nation South Korea says a growing dispute over currency exchange rates will have to be discussed at next month's G20 summit.

    President Lee Myung-bak's office released the comment Thursday after he discussed the matter with international economic experts. The office quoted Lee as saying there are "various pending issues, including exchange rates, which need international coordination" when the G20 leaders meet in Seoul on Nov. 11 and 12.

    China has come under intense pressure, most recently at a meeting with EU leaders this week, to allow a rapid appreciation in the value of the yuan. Japan, South Korea, Taiwan, Thailand and other countries have also tried to weaken their currencies in order to boost exports, raising fears of a global "currency war."

    The G20 brings together 20 of the world's top developed and most important developing countries. Together, they account for most of the world's trade.

    Some information in this story was provided by AFP.

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