Dollar Plunges Against Mark

The dollar plunged Thursday to the weakest level against the German mark in nearly four months and hit a 3 1/2-month low vs. the Japanese yen in a sell-off blamed on investor uncertainty about the U.S. economy.

The drop was precipitated largely by the renewed erosion of the Mexican peso and fears that Mexico is headed for more financial turmoil, particularly with the fate of the crucial $50 billion, U.S.-led credit package in doubt.

In late New York trading, the dollar was quoted at 1.4893 marks, down from 1.5090 late Wednesday and off more than 2 percent for the week. The dollar also was changing hands in New York at 97.45 yen, down from 98.35.

Exchange Currency in Dollars Dollar in foreign currency Canada .7082 1.4120 France .1933 5.1740 Germany .6716 1.4890 Great Britain 1.5191 .6583 Japan .010276 97.31