	u s treasury s baker sees rate stability treasury secretary james baker said the agreement among the industrial countries reached in paris last month should foster stability of exchange rates at around current levels in testimony before the house appropriations committee baker outlined many of the measures taken designed to achieve more balanced growth and a reduction of trade imbalances during the paris meeting these measures should also foster greater stability of exchange rates around current levels he said baker reiterated that the ministers at the paris meeting agreed that their currencies were within ranges broadly consistent with underlying economic fundamentals and that further substantial exchange rate shifts could damage growth and adjustment prospects he added in these circumstances we agreed to cooperate closely to foster stability of exchange rates around current levels reuter 
