Suharto Resignation Boosts Yen

Fri., May 22, 1998

The dollar fell broadly Thursday as the resignation of Indonesia’s president bolstered the Japanese yen.

In late New York trading, the dollar was quoted at 134.78 yen, down from 135.98 late Wednesday. The dollar also was changing hands at 1.7558 German marks, down from 1.7698.

The dollar had benefited from a flow of funds into the United States as international investors sought a safe haven from economic and political strife in Indonesia. Japan’s currency suffered because of its economic ties to Indonesia.

Exchange Currency in Dollars Dollar in foreign currency Canada .6899 1.4495 France .1699 5.8860 Germany .5695 1.7558 Great Britain 1.6327 .6125 Italy .000577 1732.05 Japan .007419 134.78 Mexico .115781 8.6370

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Suharto Resignation Boosts Yen

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