Based on a textual analysis of Article 15 of GATT1994 ， the author holds the view that Article 15 of GATT1994 neither exempts WTO members from their WTO obligations on the condition that their foreign exchange arrangements are in line with IMF agreements nor excludes the WTO jurisdiction on exchange rates. Meanwhile，the constitution of dumping or subsidies isn' t a precondition for the exercise of WTO jurisdiction.