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Finance Ministers' Meetings

Official Statement of G7 Finance Ministers and Central Bank Governors, Berlin

February 8, 1997

We discussed the developments on currency and financial markets. We believe that major misalignments in exchange markets, noted in our April 1995 communiqué, have been corrected.

We reaffirmed our views that exchange rates should reflect economic fundamentals and that excess volatility is undesirable.

We agreed to monitor developments on the currency markets and to cooperate as appropriate.

Source: Canada, Dept. of Finance

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