Dollar Gains Ground On Yen

Thu., May 7, 1998

The dollar rose nearly 1-3/4 yen against the Japanese currency Wednesday as Asian-Pacific markets took a hit and Indonesians rioted for the third day over price increases forced by international aid donors.

The mark edged higher against the dollar as investors discounted statements by a German central bank official that a German interest rate hike is not forthcoming.

In Japan, the benchmark Nikkei Stock Average fell 2.29 percent. When last open on Friday, preceding a national holiday, the average was down 0.26 percent.

Exchange Currency in Dollars Dollar in foreign currency

Canada .6950 1.4389

France .1688 5.9225

Germany .5661 1.7665

Great Britain 1.6596 .6026

Italy .000574 1742.00

Japan .007509 133.18

Mexico .118022 8.4730

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Dollar Gains Ground On Yen

Jesse Tinsley

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