Dollar Makes A Decline

Thu., Nov. 12, 1998

The dollar declined against most major currencies Wednesday, falling against the Japanese yen on news that a new fiscal stimulus package from Japan would include tax cuts, considered essential to any efforts to revive that country’s economy.

The dollar’s fall against the mark came as a German central banker emphasized that no interest rate cuts were in the offing.

Foreign exchange transactions were exaggerated by thin markets in the United States, where government offices, most banks and the Treasury bond market were closed in observance of Veterans Day. Stock and commodity markets were open.

Exchange Currency in Dollars Dollar in foreign currency Canada .6472 1.5450 France .1777 5.6265 Germany .5965 1.6764 Great Britain 1.6620 .6017 Italy .000603 1659.00 Japan .008216 121.72 Mexico .099850 10.0150

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Dollar Makes A Decline

Jesse Tinsley

Jim Meehan

Molly Quinn

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