Eu Moves Affect Dollar Price

Tue., May 5, 1998

The dollar was little changed against the German mark and Japanese yen Monday following a tumultuous weekend leading up to the introduction of European monetary union.

The dollar was up against the mark and down against the yen after the European Union selected its president of the new European Central Bank, which will guide monetary policy after the Jan. 1 introduction of the group’s new single currency, the euro.

The EU leaders agreed to appoint Wim Duisenberg to the powerful position.

Exchange Currency in dollars Dollar in foreign currency

Canada .6974 1.4340

France .1676 5.9675

Germany .5617 1.7803

Great Britain 1.6647 .6007

Italy .000569 1756.75

Japan .007519 133.00

Mexico .118161 8.4630

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Eu Moves Affect Dollar Price

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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