There is a better understanding among the Group of 20 nations that currency frameworks among the world's largest economies need to be better aligned, a senior U.S. administration official said on Saturday.
While the Group of Seven industrialized countries have a long-standing set of rules on exchange rates, the newer G20, which includes China and India, is still trying to develop its own framework on currencies, the official said.
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The official said the G20 agreement forged among finance ministers in Moscow, which commits to moving rapidly toward more market-determined exchange rate systems, ensures that as countries' exchange rate policies evolve they move to a set of common standards.
(Reporting By Lesley Wroughton, editing by Mike Peacock)