Dollar Falls Against Yen

Wed., July 15, 1998

The dollar fell nearly 1-1/2 yen Tuesday on news that a top Japanese financial official was to assure Washington that Japan remains committed to economic reforms.

The dollar rose against the German mark amid reports that the Russian parliament might not fully approve austerity measures required to receive $17.1 billion in new loans from international bankers.

Traders dumped dollars on news that an influential vice finance minister, Eisuke Sakakibara, was traveling to the United States this week to pledge that Japan will continue efforts to revive its ailing economy.

Exchange Currency in Dollars Dollar in foreign currency

Canada .6760 1.4793

France .1654 6.0450

Germany .5542 1.8043

Great Britain 1.6351 .6116

Italy .000562 1778.00

Japan .007142 140.42

Mexico .113084 8.8430

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Dollar Falls Against Yen

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