• Short Summary

    Following a week of intensive activity on the international currency exchange markets, the United States dollar dropped to below to West German marks on Wednesday (1 March).

  • Description

    Following a week of intensive activity on the international currency exchange markets, the United States dollar dropped to below to West German marks on Wednesday (1 March).

    SYNOPSIS: Recent activity in the West German stock exchange has been brisk as the value of the United States dollar fluctuated against major world currencies. Last weekend, the Swiss stepped in on the international money market to try to prop it up and preserve some semblance of order on the foreign exchanges. But, after a brief recovery, it began dropping again, and on Wednesday (1 March) fell to its lowest ever level of 1.9882 Marks. This latest fall has been the result of world anxiety about future of the American economy -- which is suffering a huge trade deficit. Officials in major European capitals have stressed that this has led to a general lack of confidence, resulting in a fall not justified by purely economic factors.

    Reuters report that the latest drop follows figures issued in Washington on Tuesday (28 February) about the state of the U.S. economy. The figures, released by the U.S. Commerce Department, show that its index of 10 leading economic indicators has fallen by 1.9 per cent in the last month. This is the first decline in six months, and the biggest drop for three years. And has resulted in a European rush to sell dollar holdings.

  • Tags

  • Data

    Film ID:
    VLVABS4KAFU7LWBK6X8HBQ12LBM1H
    Media URN:
    VLVABS4KAFU7LWBK6X8HBQ12LBM1H
    Group:
    Reuters - Including Visnews
    Archive:
    Reuters
    Issue Date:
    01/03/1978
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:01:31:00
    Time in/Out:
    /
    Canister:
    N/A

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