(MENAFN- Saudi Press Agency) German central bank chief Jens Weidmann on Monday warned against measures aimed at weakening the euro, arguing
the currency is not overvalued, dpa reported.
'An exchange rate policy for the targeted weakening of the euro
would in the end result in higher inflation,' Weidmann said.
'The relevant indicators do not signal any serious overvaluation,
despite the recent appreciation of the euro,' he added, noting that
past devaluations haven't led to 'enduring gains in competitiveness.'
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