• Short Summary

    As the dollar continued its downward trend on European money markets, bankers and foreign exchange dealers in the United States reported above-average activity for this time of the year.

  • Description

    As the dollar continued its downward trend on European money markets, bankers and foreign exchange dealers in the United States reported above-average activity for this time of the year. The rush to buy foreign currency was headed by Americans due to travel to Europe, who are wary that the dollar could fall even further during the next few weeks.

    SYNOPSIS: At the central State Bank in New York, customers were taking no chances on the dollar. Their lack of confidence followed the currency's record lows on the German and Swiss exchanges on Wednesday and Thursday (1 and 2 March).

    Vice-President of Perera's Foreign Exchange market, John Flynn, explained the rush...

    The weakening of the dollar also had its effects on the New York stock exchange, where the Dow Jones industrial index dropped more than fourteen points during early trading on Thursday (2 March). This trend was reversed later in the day, and stock prices began moving up, although the dollar did not. Sales Vice President of stock analysts Cowen and Company, Frederick Lowey, says the current situation can be blamed on the Carter Administration...

  • Tags

  • Data

    Film ID:
    VLVA8HYJU3C7J05VHV4870BZB2EVO
    Media URN:
    VLVA8HYJU3C7J05VHV4870BZB2EVO
    Group:
    Reuters - Source to be Verified
    Archive:
    Reuters
    Issue Date:
    02/03/1978
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:01:45:00
    Time in/Out:
    /
    Canister:
    N/A

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