Dollar Rises Against Yen

Tue., May 19, 1998

The dollar hit a 6-year high against the Japanese yen Monday as the political disarray in Indonesia continued and emerging markets worldwide were shaken.

The mark and other currencies also drew strength by surging against the yen, preventing the dollar from gaining much against the Germany currency.

In late New York trading, the dollar was quoted at 136.25 Japanese yen, its highest level since September 6, 1991, up from 134.52 yen late Friday. The dollar also bought 1.7850 German marks, up from 1.7847 marks.

In Indonesia, besieged President Suharto lost the support of top Parliament allies Monday but held onto the all-important backing of the nation’s powerful military. More than 3,000 student protesters rallied for political change.

Currency in Dollar in Exchange Dollars foreign currency

Canada .6907 1.4478 France .1671 5.9850 Germany .5602 1.7850 Great Britain 1.6215 .6167 Italy .000568 1760.54 Japan .007339 136.25 Mexico .116618 8.5750

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Dollar Rises Against Yen

Jesse Tinsley

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