Rubin Comments Drop Dollar

Tue., June 25, 1996

The dollar slid Monday, a day after U.S. Treasury Secretary Robert Rubin said he favored keeping the dollar at its current level, not higher as was widely reported last week.

The major industrialized nations started pushing for a stronger dollar just over a year ago after the greenback hit postwar lows against the Japanese yen and German mark.

Since then the dollar has gained to the point where U.S. business leaders say it is making their products pricier overseas and making imports cheaper.

Exchange Currency in Dollars Dollar in foreign currency Canada .7358 1.3590 France .1929 5.1850 Germany .6535 1.5303 Great Britain 1.5405 .6491 Italy .000648 1542.80 Japan .009179 108.95 Mexico .131354 7.6130

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Rubin Comments Drop Dollar

Jesse Tinsley

Jim Meehan

Molly Quinn

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