This was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government
A statement made by the G7 Finance Ministers and Central Bank Governors on 12 February 2013.
We, the G7 Ministers and Governors, reaffirm our longstanding commitment to market determined exchange rates and to consult closely in regard to actions in foreign exchange markets.
We reaffirm that our fiscal and monetary policies have been and will remain oriented towards meeting our respective domestic objectives using domestic instruments, and that we will not target exchange rates.
We are agreed that excessive volatility and disorderly movements in exchange rates can have adverse implications for economic and financial stability.
We will continue to consult closely on exchange markets and cooperate as appropriate.
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