Greenback Posts Modest Gains

Fri., March 22, 1996

The dollar rose modestly Thursday after the market discounted reports of a weakening U.S. economy and saw renewed possibilities of interest rate cuts in Germany.

The dollar mostly followed U.S. bond prices higher after the federal government said jobless claims and inventories rose and analysts said the data were skewed by the General Motors strike and January’s storms.

By 4 p.m. in New York, the dollar was quoted at 106.70 Japanese yen, up from 106.35 yen late Wednesday, and 1.4785 German marks, up from 1.4737.

Exchange Currency in Dollars Dollar in foreign currency

Canada .7342 1.3620

France .1971 5.0730

Germany .6764 1.4785

Great Britain 1.5375 .6504

Italy .000640 1563.50

Japan .009367 106.76

Mexico .132714 7.5350

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Greenback Posts Modest Gains

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