Dollar Hits Five-Week High Vs. Mark

Tue., Nov. 26, 1996

The dollar rallied to a five-week high against the mark and nearly two-year high against the Swiss franc Monday, reflecting widespread selling of European currencies for dollars in the aftermath of Italy’s readmission to Europe’s exchange-rate system.

The dollar also was helped by widespread weakness in the yen after a top Bank of Japan official acknowledged deep-seated concern about more possible Japanese bank failures due to an overhang of bad debt.

Currency in Dollar in Exchange Dollars foreign currency

Canada .7448 1.3426 France .1940 5.1550 Germany .6566 1.5230 Great Britain 1.6686 .5993 Italy .000662 1510.75 Japan .008879 112.63 Mexico .126952 7.8770

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Dollar Hits Five-Week High Vs. Mark

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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