MOSCOW Feb 13 Russia, chair of the Group of 20
nations, said on Wednesday it was important that Japan had not
intervened on currency markets to weaken the yen.
"The Japanese yen was definitely overvalued," Deputy Finance
Minister Sergei Storchak told reporters in Moscow, ahead of a
meeting of G20 finance ministers and central bankers on Friday
Storchak, who is Russia's G20 finance 'sherpa', said
developments should be monitored, but added that "there are no
signs" that Japan's monetary authorities were intervening on the
"It would be an exaggeration to say that (Japan) is using
the exchange rate as a stimulus for exports," Storchak said.