Timothy Geithner seeks uniform exchange rate policy

Mr Geithner said tight control of currency pricing by some countries was hurting global economy.

The United States and other developed nations have been critical of China's exchange rate policy.

The meeting is being attended by some of the financial world's biggest names.

Mr Geithner said that the Group of 20 nations was working closely to put in place a system that will streamline the exchange rates globally.

"We have been engaged in a multilateral effort in the G20 to establish stronger norms for exchange rate policy," he said.

There have been repeated calls for China to let the value of yuan appreciate against the US dollar. It has been accused of keeping the value of the yuan artificially low in order to help its exporters.

Beijing has maintained that a sudden appreciation of its currency will be detrimental not only for its export sector but for its overall economy.

Analysts say the scenario is likely to remain the same for the time being.

"China will be sensitive to discussing the yuan, especially on its own ground, but given what's happened in the world economy in the past few weeks, I think exchange rate complaints will be on the back burner," said Mitul Kotecha, global currency strategist at Credit Agricole; Kazinform cites BBC News.

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