TEXT-G7 statement on exchange rates

WASHINGTON, Oct 10 (Reuters) - Following is the text of a statement on the foreign exchange markets from the financial leaders of th Group of Seven -- United States, Canada, Japan, Britain, Germany, France and Italy.

“We reaffirm our shared interest in a strong and stable international financial system. Excess volatility and disorderly movements in exchange rates have adverse implications for economic and financial stability.

“We continue to monitor exchange rate markets closely and cooperate as appropriate.

“Given China’s important role in the global economy we encourage the authorities to allow accelerated appreciation of the RMB effective exchange rate as a means of further rebalancing of the domestic economy and promoting external stability”