Dollar Lower In Most Markets

Tue., April 28, 1998

The dollar fell against the German mark and most other major currencies Monday as major world and U.S. stock markets tumbled.

The dollar finished higher against the Japanese yen in seesaw trading as fears faded about Japan intervening in the markets to support its currency.

In late New York trading, the dollar was quoted at 1.7876 marks, down from 1.7895 late Friday. It also was changing hands at 132.23 yen, up from 131.16.

During Asian trading, the dollar rose against the yen as Japan’s Nikkei average fell 2.3 percent. The dollar also gained strength as investors decided that the Bank of Japan was not about to intervene on behalf of the yen, based upon comments by Japan’s most widely known finance official, Eisuke Sakakibara.

Exchange Currency in Dollars Dollar in foreign currency Canada .6949 1.4390 France .1668 5.9935 Germany .5594 1.7876 Great Britain 1.6742 .5973 Italy .000566 1766.50 Japan .007563 132.23 Mexico .117385 8.5190

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Dollar Lower In Most Markets

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