Eurozone FinMins expect to discuss currency issues in G20 meeting

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Several eurozone finance ministers on Monday said currency issues should be discussed in the upcoming Group of 20 (G20) meeting of central bank governors and finance ministers in Moscow to avoid exchange rate volatility.

In response to media questions about euro's recent appreciation, Eurogroup President Jeroen Dijsselbloem said after a meeting of eurozone finance ministers that "it was part of our discussion.

"The main conclusion was it should be discussed in the G20 this weekend," he added.

German Finance Minister Wolfgang Schaeuble also told reporters after the meeting that the exchange rates should not be manipulated.

"We will urge at the G20 meeting in Moscow later this week that the principle is also agreed in the G20 framework," he said.

Before the eurozone meeting earlier Monday, French Finance Minister Pierre Moscovici said he wanted European countries to present a common plan later this week during the G20 meeting.

"It seems important to me that a currency should reflect economic fundamentals. This is possible if markets function. We are going to be careful to eliminate exchange rate volatility," Moscovici told reporters after the meeting.

"We really have to take strong action at the international level for stability and then all instruments can be used but in a coordinated manner," he added, dismissing reference to calling for central bank intervention or pushing for a currency war.

The comments came as the single currency of the eurozone had been appreciating against the U.S. dollars over recent weeks, from a low point of one to 1.20 last year to 1 to 1.36 late January. Endi

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