April 19, 2008	Saturday	Rabi-us-Sani 12, 1429

PARIS, April 18: Developing countries may need more flexible exchange rate regimes and the global financial system might be better off if a broader range of currencies were used as reserves, a Chinese central bank adviser said on Friday.

“We need more flexibility in exchange rate regimes, policies,” Fan Gang, who holds the academic seat on the People’s Bank of China’s monetary policy committee, told a news conference on the margins of an economics forum in Paris.

He was speaking of developing countries in general rather than of China, which has faced pressure from the United States and other western countries to revalue its yuan currency more quickly, specifically.—Reuters