WASHINGTON, Oct 20 (Reuters) - The level of the dollar and other major currencies is not currently preventing a necessary rebalancing in the global economy, the International Monetary Fund's second in command said on Tuesday.
"The surplus countries have to shift to internal demand and the deficit countries the opposite. Currencies may play a role in that over time," IMF First Deputy Managing Director John Lipsky told CNBC television in an interview.
"But in the near term, the currency relationships among the major ... trading currencies are not an impediment to the recovery at this time," he said.
The dollar hit a 14-month low against a basket of currencies <.DXY> on Tuesday and its recent slide has partially reversed a sharp rally during last year's financial crisis. (Reporting by Alister Bull; Editing by James Dalgleish)