Finance ministers and central bankers of the Group of 20 (G20) yesterday/ on Saturday pledged to strengthen financial stability and promote sustainable growth at the conclusion of a two-day meeting here.

G20 vows to support financial stability, sustainable growth

The finance officials vowed to promote more market-determined exchange rate systems and let exchange rate flexibility to reflect underlying fundamentals. They recognized the "adverse implications" of volatile financial flows and exchange rates for economic stability, reaffirmed their commitment to refrain from competitive devaluation.

International Monetary Fund (IMF) chief Christine Lagarde said that though the imbalance of economic recovery has posed pressures on various countries, the IMF review showed relevant currencies have been fairly valuated.

The G20 Moscow conference was the first major event chaired by Russia since it held the G20 rotating presidency in 2013.