G7 leaders' reaffirm commitment to G7 exchange rates

A joint statement issued by ​the leaders of the G7 ‌group of the world's richest nations, meeting in France, pledged ​to stick to ​existing G7 exchange rate commitments, ⁠amid financial market turbulence ​linked to volatile oil ​prices.

"In order to strengthen crisis management and mitigate the impact of ​crises, which could ​contribute to stabilizing energy markets, we ‌encourage ⁠oil-importing countries to establish sufficient and effective oil reserve systems aligned with the ​International ​Energy ⁠Agency (IEA) 90-day stockpiling requirement while avoiding pro-cyclical ​effects," said the ​statement.

"We ⁠also reaffirm our existing G7 exchange rate commitments," it ⁠added.

-Reuters