G20 draft urges emerging nations currency flexibility

TORONTO: G20 leaders on Sunday called on the world's emerging economies to allow their currencies to float more freely, in a bid to balance world trade, according to draft conclusions from a summit in Toronto.

With an eye on Asian currencies that are believed to be undervalued, the leaders called on countries with a trade surplus to act.

"Emerging surplus economies will undertake reforms tailored to country circumstances to... enhance rate flexibility," the draft said.