New Concerns Boost Dollar

Wed., June 24, 1998

The dollar rose against other major currencies Tuesday on a dim outlook for Japan’s credit rating and worries about Russia’s economic problems.

The rating agency Fitch IBCA warned that Japan’s credit rating could be downgraded, increasing concerns about the country’s economy after its government failed to deliver a recovery plan to global finance leaders last weekend.

While the Japanese yen was hurt by Fitch’s warning, the German mark also suffered vs. the dollar on anxiety about the economic troubles in Russia.

Exchange Currency in Dollars Dollar in foreign currency Canada .6806 1.4692 France .1657 6.0365 Germany .5552 1.8010 Great Britain 1.6675 .5997 Italy .000564 1774.00 Japan .007186 139.15 Mexico .112183 8.9140

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New Concerns Boost Dollar

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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