G-7 Unlikely To Make Big Changes

Finance ministers from the Group of Seven major industrialized nations, meeting here today, will make no “dramatic” departure from their current policy on exchange rates, Treasury Secretary Robert Rubin said.

“It won’t be like Berlin,” Rubin said, referring to the ministers’ meeting last February at which they declared a two-year effort to strengthen the dollar had ended.

“Berlin was arguably dramatic. It won’t be like that,” he told reporters flying with him to Hong Kong.

“I’m not saying there might not be some little joggles, but nothing like Berlin.” Rubin’s comments indicate the G-7 ministers are content with current trading levels for the dollar, and will issue a statement to that effect.