Dollar Gains Ground On Mark

Wed., April 29, 1998

The dollar rose against the German mark and other European currencies Tuesday after an early rebound on Wall Street. It also rose slightly against the yen.

The dollar advanced against the mark after U.S. stocks started the day higher, rebounding from a sharp drop Monday. Although the Dow Jones industrial average later relinquished its gains to finish slightly lower, the dollar maintained its strength vs. the mark.

The German currency also suffered after Reimut Jochimsen, a member of the policy-setting council for the country’s central bank, was quoted by the VWD financial news service as saying there was no immediate need to raise German interest rates.

Exchange Currency in Dollars Dollar in foreign currency Canada .6943 1.4403 France .1665 6.0075 Germany .5579 1.7925 Great Britain 1.6692 .5991 Italy .000564 1771.75 Japan .007564 132.21 Mexico .117786 8.4900

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Dollar Gains Ground On Mark

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