Dollar Finishes Lower

Fri., Jan. 1, 1999

The dollar fell Thursday in the last day of trading before Europe’s new common currency took effect, ending a tough year in which the U.S. currency was battered by stock market volatility.

The dollar declined against the Japanese yen and German mark after European Union finance ministers set conversion rates for the new euro ahead of the currency’s midnight launch. The drop was also attributed to traders with strong dollar positions balancing their holdings ahead of the new year.

Exchange Currency in Dollars Dollar in foreign currency Canada .6460 1.5479 France .1786 5.5980 Germany .5993 1.6685 Great Britain 1.6569 .6026 Italy .000605 1654.05 Japan .008805 113.57 Mexico .101010 9.9000

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Dollar Finishes Lower

Jesse Tinsley

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