Dollar Partly Recovers

Fri., Dec. 13, 1996

Helped by weakness in the mark, the dollar finished mostly higher Thursday, despite more anxiety in U.S. securities markets that wrenched down prices late in the day.

But the dollar remained somewhat vulnerable to the ups and downs of Wall Street, tending to follow the behavior of the Dow Jones industrial average as it rallied in the morning and pulled back in the afternoon to end with a 99 point loss. That selloff helped trim the dollar’s gains for the day.

“As the Dow turned lower, the dollar turned lower,” said Thomas Arnold, a currency trader at the New York branch of Dai-Ichi Kangyo Bank.

Exchange Currency in Dollars Dollar in foreign currency

Canada .7364 1.3579

France .1917 5.2170

Germany .6484 1.5423

Great Britain 1.6576 .6033

Italy .000655 1526.50

Japan .008828 113.27

Mexico .126502 7.9050

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Dollar Partly Recovers

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