Swiss franc and yen fall against SUS
NZPA Reuter London The Swiss franc and Japanese yen fell sharply i against the United States) dollar on Monday, despite)
llefforts by the central banks iof the two countries to prop up their currencies. I The chief reason for the i fall was a widening gap between Swiss and Japanese (interest rates, and those in ithe United States. i United States banks! (prompted by United States Government efforts to control inflation. last week raised their prime lending rates between one and 1.25 per cent. The troubled Swiss francalso fell against other countries because of low Swiss interest rates. It reached i‘s lowest point against the West German mark, 0.9493 francs per mark, for nearly two years. The Japanese and Swiss central banks failed to stem the decline by selling dollars. The Japanese bank sold about S2OOM, but the yen dropped to 248.35 against the dollar, compared with 247.52 on Friday. The Swiss franc fell to 1.6685 to the dollar compared to 1.6607 on Friday.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19800228.2.94
Bibliographic details
Press, 28 February 1980, Page 22
Word Count
171Swiss franc and yen fall against SUS Press, 28 February 1980, Page 22
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.
Log in