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ECB does not target the exchange rate, but it is an important variable - de Guindos

Vice-President of the European Central Bank (ECB) Luis de Guindos gives a statement during the second day of the Informal Meeting of EU Ministers for Economics and Financial Affairs in Berlin, Germany September 12, 2020. Odd Andersen/Pool via REUTERS

BERLIN (Reuters) - The European Central Bank does not target the euro exchange rate in its policy, but it is an important variable and the bank monitors it when assessing the effects on price stability, European Central Bank vice president Luis de Guindos said.

De Guindos was answering a question on the appreciation of the euro exchange rate at a press conference after of European Union finance ministers in Berlin.

Reporting by Jan Strupczewski

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