French Prime Minister Francois Fillon says that the recent fluctuations of euro have been too volatile, and the euro is overvalued in the global market.

"The rate of exchange of the euro globally speaking is overvalued. We have been saying it but the IMF (International Monetary Fund) has been saying the same thing and the euro area according to us cannot bear the entire weight of the adjustment for all currencies."

He made the remarks in Washington ahead of meetings with U.S. Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke.

The two sides will discuss how to coordinate policy on exchange rates, and seek remedies for global financial instability.

The fast rise of the value of euro in recent months has pinched France's economy by hampering exports.

The French government recently dropped its growth target for this year to less than 2 percent, and estimated that deficit in 2008 will be larger than expected.