Competitive devaluation of currency major threat to stability in the global economy: India

 
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New Delhi: India said competitive devaluation of currency is a major threat to stability in the global economy.

Ahead of the meeting of G20 finance ministers and central bank governors in Turkey, an official release said, "The recent devaluation of major currencies followed by currency depreciations in a large number of Asian emerging markets raises the risk of competitive devaluations. Competitive currency devaluations, at a time when global demand is sluggish, is a major threat to stability in the global economy."

In Ankara, Finance Minister Arun Jaitley would participate in a two-day conference of G20 finance ministers and central bank governors, who will take stock of the global...

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