Dollar Weakens As Mark Rallies

Thu., Aug. 22, 1996

The dollar fell against the mark and most other currencies Wednesday after a German research group reported a sharp rise in business confidence, dimming expectations for lower interest rates in Germany.

The unexpectedly strong data from the Munich-based Ifo Economic Research Institute came one day before the Bundesbank’s policymaking council was convening for the first time since a monthlong summer break, amid widespread expectations the central bank would lower rates.

The mark strengthened broadly on the news, particularly against the Japanese yen.

Exchange Currency in Dollars Dollar in foreign currency Canada .7280 1.3737 France .1972 5.0705 Germany .6745 1.4825 Great Britain 1.5500 .6452 Italy .000659 1517.00 Japan .009220 108.46 Mexico .133869 7.4700

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Dollar Weakens As Mark Rallies

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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