European Stars and Stripes (Newspaper) - February 16, 1992, Darmstadt, Hesse                                Sunday february 16, 1992 the stars and stripes a Page 15 Dollar watch shown below Are the highest Dollar Exchange rates for the week of feb. 9-15 compared with Dollar rates for the same period one year and five years ago. Money matters German Mark one Dollar would buy you it Elf 1.80 1-58 1.43 1992 1991 i a military Exchange rate 1997 or Kish Pound one Pound would Cost you 1.77 1.98 one Dollar would buy you 33 38 33 30 i 1991 1987 i dutch Guilder one Dollar would buy you of 2 09 1-82 1.64 i 1992 1991 1987 French franc one Dollar would buy you e co 6.18 552 4.98 a 1992 l 1991 1987 greek drachma one Dollar would buy you 187 135 156 1992 i 1991 l 1987 italian lira one Dollar would buy you 1.218 1,101 1,321. J8mj Jwj Jujj Spanish peseta one Dollar would buy you 130 101 101 91 i 1992 1 1991 i 1987 1 turkish lira one Dollar would buy you 5,657 1992 3,099 Jwj open nears Deal to Cut output by More than 1 million barrels by the new York times Geneva a open Oil ministers Are close to an agreement that would Cut the groups total Oil production by More than a million barrels a Day. Iran soil minister told reporters Friday that All 13 members of the organization of Petroleum exporting countries had agreed to a new 22.5 million ceiling. But saudi arabians Oil minister i Sham Nazer reiterated the position that his country would not Cut More than 500,000 barrels from its output of 8.5 million. Under this formula with other members cutting a total of about a million barrels open output would hover around 22.7 million to 22.8 million which is close to saudi proposals. The greatest difficulties in the talks concern How much each of the other 12 members should produce. Saudi arabians continued insistence that it should retain a third of Opecz a output has also complicated the negotiations which began wednesday in Geneva. A if we say the saudis continue to produce 35 percent of Opecz a output forever what do we do when Kuwait and Iraq eventually return As big producers a said a senior Arab open Delegate sum f mar izing a prevalent View among other officials. Over the last year and a half problems within open had diminished largely because each member produced at full Ca acuity to compensate for missing exports rom Iraq and Kuwait which stood at More than 4 million barrels a Day until the persian Gulf crisis began in August 1990. So far open has agreed to leave Iraq and Kuwait outside of any new quota system. Kuwait a output which has been steadily rising in the year since the wars end May reach 800,000 barrels a Day by midyear. Iraq is banned by the United nations from exporting Oil and is not Likely to negotiate the right to Export Oil again for two or three months. The Issue of re instituting quotas is crucial since the practice was abandoned two years ago and was respected with great difficulty before that. The saudi insistence on keeping its huge share of output Means that other open members particularly Large producers like Iran Nigeria and Indonesia will have to Cut production significantly if they want to get saudi Arabia to reduce its own output. Without a saudi Accord it is virtually impossible for open to arrest the fall in Oil prices that began several months ago. Most Oil analysts agree that Oil prices will fall significantly if open fails to reach an Accord in Geneva. On the new York mercantile Exchange the Price of crude fell 22 cents to it $19.46 a barrel on Friday. The cautious saudi attitude reflects lessons of the past when saudi Arabia carried out big cuts in its own production to find that others in open failed to live up to their commitments to reduce production. Furthermore the saudis remain wedded to the idea that Oil prices should be held at a moderate level not much higher than the general average of about $17 a barrel. The saudis have in the last few years favored a Range of $17 to $23. Whenever prices moved within this Cycle the saudis ave always championed Only increases in production and fought the idea of cuts to induce higher prices. On Friday night the open Oil ministers broke off informal consultations to meet again saturday As a Compromise was being worked out in private conversations. Market gets jitters As Bond prices erode Hopes fade for rate cuts amps new York up a Wall Street had a bumpy ride last week As it fidgeted Over the direction of interest rates. Stocks soared to record highs at midweek when the second leg of the Treasury departments auction of $36 billion in government debt fared Well. But they plunged the next Day when the third and final phase of the auction did poorly. The weight of the new government securities and fading prospects of further easing of interest rates eroded Bond prices which in turn depressed stocks. A a it a been an up and Down Market this week like a Yoyo a said Alan Ackerman executive vice president at Reich amp co. A eyes had been on interest rates. When it became evident that interest rates wont go lower the Market sold  Hugh Johnson head of the investment policy committee at first Albany companies inc., a securities broker in Albany n.y., said Bonds had been weak because dealers carried a a very hefty inventory of 30-year Bonds from thursdays auction. A the Stock Market obviously is troubled by the decline in the Bond Market a he said. A the focus of the Stock Market is on the Bond Market and interest rates. Interest rates have reached attractive Levels and individual investors Are moving from Low yielding certificates of Deposit and Money Market funds More to the Bond Market than the Stock Market because of attractive High rates. Once Bond prices stabilize stocks will also  for the week the Dow Jones Industrial average gained 20.57 Points to Post a two week winning Streak. Among the Broad Market indexes the new York Stock Exchange composite Index edged up 0.51 to end the week at 228.16. Standard amp poor a 500 Index added 1.39, posting a 412.48. Advancing issues topped decliners 1,098-940 among the 2,321 issues traded last week. Weekly big Board volume totalled 1,074,148,84 shares Down from 1,151,206,008 traded a week earlier and 1,183,800,870 in the same week a year ago. Stocks rebounded in quiet trading monday after the Market managed to shake off weak Bond prices and helped the Dow snap a three Day losing Streak. The atmosphere in both Stock and Bond markets had been subdued in anticipation of the Treasury a auction which began tuesday traders said. The Dow regained 19.68, to close monday at 3,245.08, in the third slowest session of the year. Stocks posted slim gains in Dull trading tuesday after recovering from a Brief dip triggered by lacklustre results of the first leg of the Treasury a auction. The Dow added 6.49, to close 3,251.57. Stocks soared to record highs in Choppy trading wednesday. Investors were encouraged when the second leg of the auction fared better than the first. The Dow surged 25.26, to 3,276.83, erasing the previous record High of 3,272.81 reached feb. 4. Stocks tumbled in heavy but Choppy trading thursday dragged Down from record highs by computerized sell programs and weak Bonds following a disappointing final leg of the auction. The sell off undermined better than expected jobs and retail sales reports. The Dow plunged 30.18, to 3,246.65. Stocks eased in Choppy trading Friday As prospects of lower interest rates faded prompting investors to take profits ahead of the presidents Day Holiday weekend. The Dow slipped an additional 0.68, to 3,245.97. On the trading floor last week Uniss topped the big Board actives climbing 2%, to 10%, after introducing a new family of powerful mid Range a series computer systems thursday. Chrysler followed unchanged at 16%. It topped the actives list Friday gaining in to 16%, after a rating upgrade from Kidder Peabody amp co. Volume of nose listed issues including trades in stocks on regional exchanges and in the Over the counter Market totalled 1,313,352,354 shares compared with 1,404,176,188 traded in the previous session and 1,440,974,900 a year ago. On the american Stock Exchange the amex Market value Index fell 1.00 to close Market update activity for the week of feb. 10-14,1992 Dally Dow Cloaca 3300 3275 3250 3225 3200 3175 3150 3,245.97 a Quot tit. It Quot f 4# m w the highest close 3,276.83-wed. Weeks High 3,296.74-thurs. Lowest close 3,245.08-Mon. Weeks Low 3,208 86-Mon. Weeks change up 20.57 ap/s4s Friday at 414.27, losing 1.14 Points for the week. Advances led declines 453-410 among the 1,040 issues traded for the week. Amex volume totalled 94,000,665, compared with 100,103,090 shares a week earlier and with 88,977,305 in the same week a year ago. Wang laboratories led the amex actives. Etinine 1% to 5