Dollar Higher On Tokyo Stock Plunge

Tue., Dec. 23, 1997

The dollar rose against other major currencies Monday after Japanese stocks plunged to a nearly 2-1/2-year low and a major Wall Street rating agency downgraded the credit ratings of four Southeast Asian countries.

The continuing turmoil in Asia’s financial markets pushed the dollar higher against the Japanese yen and German mark, but the gains were held back by fears that Tokyo’s central bank would intervene in the market to sell dollars for yen.

Exchange Currency in Dollars Dollar in foreign currency Canada .6981 1.4325 France .1679 5.9570 Germany .5615 1.7810 Great Britain 1.6633 .6012 Italy .000573 1745.75 Japan .007685 130.13 Mexico .123457 8.1000

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Dollar Higher On Tokyo Stock Plunge

Jesse Tinsley

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