Taking on board India's concerns, the G-20 Summit today acknowledged that excess volatility of financial flows and disorderly movements in exchange rates can affect economic and financial stability of emerging markets and called for sound policies to address it.
Coming against the backdrop of the battering that rupee suffered in recent weeks, the 27-page G-20 Leaders' Declaration committed itself to cooperate to ensure that policies implemented to support domestic growth also support global growth and financial stability and to manage their spillovers other countries.
