Dollar Dips Vs. Japanese Yen

Thu., Jan. 15, 1998

The dollar fell slightly against the Japanese yen Wednesday amid growing confidence that Japan and other Asian countries will be able to revive their ailing economies.

The dollar, meanwhile, rose against the German mark as speculation increased that Germany will not raise interest rates soon to boost its economy and weaken the dollar.

“The situation in Asia seems to be calming down and the Japanese seem to be legitimately trying to boost their economy,” said Ricardo Gomes, head of foreign exchange at Republic National Bank. “But there still are questions out there.”

Against the mark, the dollar rose Wednesday on speculation that the German Bundesbank would not raise interest rates soon.

Exchange Currency in Dollars Dollar in foreign currency

Canada .6981 1.4325

France .1640 6.0985

Germany .5489 1.8218

Great Britain 1.6289 .6139

Italy .000558 1792.00

Japan .007638 130.92

Mexico .121951 8.2000

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Dollar Dips Vs. Japanese Yen

Jesse Tinsley

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