Dollar Hits Record Low Vs. Yen

Under a heavy barrage of selling by investors worldwide, the dollar plunged Thursday to a record low against the Japanese yen as a muted U.S. intervention did little to bolster the sagging American currency.

The dollar also fell sharply against the German mark, losing two pfennigs, while the British pound spurted to a four-month high.

In New York trading, the dollar fell as low as 94.95 yen, exceeding the previous nadir of 96.08 yen on Nov. 2. By late afternoon, the dollar was worth 95.26 yen, down from 96.78 late Wednesday.

The dollar also dropped to 1.4355 German marks before recovering to end the day at 1.4415 marks, down from 1.4615 late Wednesday.

Exchange Currency in Dollars Dollar in foreign currency Canada .7116 1.4052 France .1972 5.0720 Germany .6925 1.4440 Great Britain 1.6130 .6200 Japan .010465 95.56