U.S. Treasury Secretary Jacob Lew: governments should not depreciate their currencies to boost exports

U.S. Treasury Secretary Jacob Lew said at the G20 summit on Friday that governments should not depreciate their currencies to boost exports.

“It doesn’t lead anywhere good. I hope we can get a commitment to avoid that,” he said.

Lew noted that there was no crisis.

“There’s a great deal of economic uncertainty in the world, but there’s not a crisis,” he said.

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