G7 leaders' statement reaffirms commitment to G7 exchange rates

EVIAN-LES-BAINS, France, June 17 (Reuters) - A joint statement issued by the leaders of the G7 group of the world's richest nations, meeting in France, pledged to stick to existing G7 exchange rate commitments, amid financial market turbulence linked to volatile oil prices.

"In order to strengthen crisis management and mitigate the impact of crises, which could contribute to stabilizing energy markets, we encourage oil-importing countries to establish sufficient and effective oil reserve systems aligned with the International Energy Agency (IEA) 90-day stockpiling requirement while avoiding pro-cyclical effects," said the statement.

"We also reaffirm our existing G7 exchange rate commitments," it added.

(Reporting by Sudip Kar-Gupta, Julia Payne, Gabriel Stargardter, Michel Rose; Editing by Alex Richardson)