Dollar Continues To Show Strength

Tue., Aug. 4, 1998

The dollar rose against the yen Monday as Japanese stocks fell and a credit rating agency lowered its ratings of four insurance companies because of weakness in the Japanese economy.

The dollar also rose against the German mark and most other major currencies, emphasizing the dollar’s overall strength. Also, the yen’s weakness allowed the mark to reach a six-year high against the yen during trading.

Adding to the financial woes, Standard & Poor’s credit rating agency announced it has downgraded the ratings on four insurance companies because of uncertainty about their prospects in a faltering economy.

Exchange Currency in Dollars Dollar in foreign currency Canada .6601 1.5149 France .1670 5.9870 Germany .5601 1.7855 Great Britain 1.6263 .6149 Italy .000568 1759.11 Japan .006868 145.60 Mexico .111632 8.9580

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Dollar Continues To Show Strength

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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