	baker says u s wants to stabilize exchange rates treasury secretary james baker said the united states and other nations were willing to cooperate to stabilize foreign exchange rates at the levels that existed at the time of an international agreement last month our position with respect to the dollar goes back to the paris agreement that the currencies were within ranges broadly consistent with underlying economic conditions baker told a senate committee baker continued we said further that we and others are willing to cooperate closely to foster stability in exchange rates around those levels he referred to a february agreement by six leading industrial nations to cooperate on monetary matters baker refused to answer a question whether japan and germany had done enough to stimulate their domestic economies for the united states to support the dollar i will not comment because the foreign exchange market reads more or less than is intended in my statements baker said baker said that the other signatories recognized that they must carry their share of the load of correcting external imbalances that have hindered the world s economy he cited news reports that germany would increase a proposed tax cut for by about five billion marks to stimulate domestic growth japan also agreed to consider stimulative measures after the japanese budget was made final baker said those nations were stimulating their economies in a manner consistent with gains against inflation reuter 
