Dollar’s Tumble Accelerates

Fri., Sept. 22, 1995

The dollar tumbled against major currencies Thursday, dropping below 100 Japanese yen in a retreat fueled by tepid central bank support for the dollar and continued speculation about obstacles to a single European currency.

The dollar had been ascendant since hitting a postwar low of 79.75 on April 19. It hit 100 yen early this month and passed 104 yen Tuesday before starting its fall.

During U.S. trading Thursday, profit-taking caused the dollar to drop about 5 percent against major currencies before recovering slightly.

In late New York trading, the dollar ended at 98.65 yen, down from 102.65 yen Wednesday. It also fell to 1.4205 German marks from 1.4613 marks.

Exchange Currency in Dollars Dollar in foreign currency Canada .7369 1.3570 France .2041 4.8985 Germany .7060 1.4165 Great Britain 1.5940 .6274 Italy .000626 1597.60 Japan .010199 98.05 Mexico .158428 6.3120

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Dollar’s Tumble Accelerates

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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