Dollar Gains Ground Against Mark

Thu., Feb. 29, 1996

The dollar rose against major currencies Wednesday, particularly gaining against the German mark, which was hurt by renewed speculation of an interest rate cut.

The greenback held onto most of its gains despite following the U.S. stock and bond markets downward in late afternoon. Financial markets were upset by a lackluster response to a 5-year note auction.

By 4 p.m. in New York, the dollar was quoted at 104.53 yen, up from 104.35 late Tuesday. The dollar was changing hands at 1.4671 marks, up from 1.4521.

Exchange Currency in Dollars Dollar in foreign currency Canada .7261 1.3773 France .1992 5.0205 Germany .6816 1.4671 Great Britain 1.5338 .6520 Italy .000645 1550.00 Japan .009567 104.53 Mexico .132100 7.5700

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Dollar Gains Ground Against Mark

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