Dollar Hits 5-Year High Vs. Franc

Fri., July 10, 1998

The dollar rose to a five-year high Thursday against the Swiss franc, helping propel the U.S. currency higher against other major currencies.

The dollar’s rise against the Japanese yen and the German mark also was fueled by lingering concerns about remedies to the recession in Japan and economic problems in Russia, Germany’s close banking partner.

Investors sold Swiss francs on rumors circulating in the foreign exchange market, including one that had the Swiss central bank selling dollars and buying marks.

Currency in Dollar in Exchange Dollars foreign currency

Canada .6780 1.4749 France .1632 6.1275 Germany .5468 1.8288 Great Britain 1.6332 .6123 Italy .000555 1802.46 Japan .007087 141.10 Mexico .111732 8.9500

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Dollar Hits 5-Year High Vs. Franc

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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