Dollar Slumps In Volatile Trading

Thu., May 29, 1997

The dollar ended lower Wednesday but rallied toward the close after Germany rejected its central bank’s objections to revaluing gold reserves to qualify for Europe’s single currency, which hurt the mark.

Currency traders viewed the dispute not only as a possible sign of diminished independence by the powerful Bundesbank, but also as a strong indication that the single currency known as the euro would likely be a weak successor to the mark if it’s introduced as scheduled in January 1999.

The mark fell in late U.S. trading as news emerged on the dispute over revaluing Germany’s vast gold reserves.

Exchange Currency in Dollars Dollar in foreign currency

Canada .7235 1.3822

France .1745 5.7310

Germany .5902 1.6943

Great Britain 1.6399 .6098

Italy .000595 1681.00

Japan .008635 115.81

Mexico .126502 7.9050

Local journalism is essential.

Give directly to The Spokesman-Review's Northwest Passages community forums series -- which helps to offset the costs of several reporter and editor positions at the newspaper -- by using the easy options below. Gifts processed in this system are tax deductible.

Meet Our Journalists

Jesse Tinsley

Meet Jesse Tinsley. As a certified drone pilot, this veteran Spokesman-Review photographer often can be seen capturing beautiful aerial photographs of our region. Sometimes though, the job requires getting down with the dogs.
Jim Meehan

Jim Meehan is no stranger to Zag Nation. As the lead writer covering the Gonzaga men’s basketball team, he tells the stories behind the game and gets fans a bit closer to their favorite players.
Molly Quinn

There is no artist in Spokane like Molly Quinn. Her whimsical style is instantly recognizable to readers of The Spokesman-Review. She has painted gorgeous illustrations that instantly elevate the journalism accompanying it. She brings to life the stories that defy photography. She makes our pages better.
Rob Curley

Spokesman-Review editor Rob Curley loves to talk with people and learn about their lives, whether it's a best-selling author or a stranger he meets downtown on his walk to lunch. It's that inquisitive nature combined with a playful sense of storytelling that helps make our newspaper different than most.

Dollar Slumps In Volatile Trading

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

ICE agent charged in shooting of Venezuelan immigrant during Operation Metro Surge arrested in Texas

Pentagon recruiting troops to watch White House UFC fights, memos show

Five killed, dozens injured in crash on I-95 in Stafford County, Virginia