European Stars and Stripes (Newspaper) - November 23, 1992, Darmstadt, Hesse Monday november 23. 1992 Money matters us Iff safes b Page 17 european Community devalues currencies of Spain Brussels. Belgium As a tie european Camm Umry devalued tie Ifni Quiat a today a rates h following Are fixed rates at which Community banking and credit Union facilities will sell foreign currencies to . Personnel for personal use German Mark .1.54 British Pound.1.57 dutch guilder.1.74 greek drachma ---------199.5477 note the Rales above apply within me Host country. Figures Are expressed in dollars to the British Pound other currencies to me Dollar following Are Interbank rates that fluctuate and should be regarded As the approximate value of the . Dollar to foreign currencies italian lira a a a a a a a a a 1,369.50 turkish lira 8,150.00 Spanish Paaata-------------------113.45 Portuguesa ascudo.------142.75 austrian Schilling ------11.115 saudi rial a a 3.7495 Bahrain Dinar--------------------0.37675 Kuwait Dinar a. 0.2963 norwegian Krona 6.45 danish Krona 814 British Pound 1.5315 German Mark 1 �5845 Swiss franc 1.4255 French franc 5.3625 dutch Guidar 1.7645 belgian franc 32.51 Canadian Dollar 1.2773 note Guree Are expressed in dollars to the British Pound other currencies to me Dollar Gold quote $335.55 an ounce Silver quote $3.78 an ounce Monsanto to Cut 3,200 positions shed some assets St. Louis apr Monsanto co. Announced Friday that it will trim 3,200 jobs sell off some assets and slow research to become More competitive in the soft global Economy. The chemical company joins other Large businesses including general motors corp. And Sears Roebuck and co. That have reacted to tougher times by slashing staff and holdings. A Consumers worldwide Are demanding products and services at dramatically lower prices a said Richard Mahoney Monsanto a chairman and chief executive. A a we must respond in this fiercely competitive environment by significantly reducing our Cost of doing Monsanto reported $9 billion in sales in 1991. It owns Nutrasweet co., the pharmaceutical firm . Searie and markets Weedkiller such As Roundup and Rodeo. The plan Calls for a 10 recent reduction in Monsanto a 32,000-member work Force. Spokeswoman Scarlett Foster said it s too Early to say which of the company a 50 plants will be closed. The changes most expected in 1993, should save the company s200 million before taxes in 1994, Foster said. About 250 of the affected jobs Are in Monsanto corporate offices around the world and another 2,250 Are at Searie. The remaining 700 Are in Monsanto s chemical and agricultural groups and at and portuguese currencies Lumaav n i Effort to Calm persistent a Furxer a Muu that has raised i Ouiros about dec nans a adopt a single currency the 1 percent Ieva Murns of tie Spanish peseta and Zefiro Iogene Scuta take effect today when dec economic Hui finance ministers Are exp med a a Sims the Market further it was act rear new the devaluation would if fear currencies relationship m Are mar the changes Are me hurl realignment of european currencies it two mourns. They were announced offer in to Nuur meeting at the dec Mir sur Commir tee. A panel of Nap cent i Uhrik ant area sury Alif dais. The Marker inc Amiry Imus irate because Hus messes do. Act mow Hay at Day what currencies vol he worm n afferent countries. Bit it also shows me Annan Smity pm carious cuff Csc sir the Mnasar Etc Imam on european mrion. Which Cwm ii in Sec a framework sir Nurrit grf pcs Mamet. and decease ounces and a can mar Viii ran ruin. the my in. Was signed. Tamist a no Frei duct the treaty bemused if Amity Abizur t Sage Cirr Rory. Aid enhance Traney nor Ammu Simitar a nov huns at terrain r. Bonair has Al Nady in Ned nit if Liilie clauses Man Ira am have Beem a climb off weaker Curren Tei to bin German Marks Onci Are sonar Stenen by Inch nor rest net be army Man ctr. Germany has it Annex to want me Rales tie so to Sty a off Taft. Or sunday dad rot Iris it men Stair mar in 2 Law nor if Gam in Soresi radars the vice press rent so me Gormar Central bank., Hans Tennen. Anh Lac Quot gun Nan will do wha n hunks amp Nappi or Pnaife Span i a Easoz. A Las devalued by 5 7rrr�m Scupi 1 Dir ref a Boul ctr c11itc3> o or hat feat Rifee tie european Mcmo it system. Arnot self maximum Fiu Cotua Siehs Aninna me 12 men brr Naium f scecai2gne run m mid september Treef lie fief ii Pound and italian lira Sun of he Exchange xae end. Eris Eveh Devai ung these Onman. They have use yes eau meal Portugal devaluation makes a country s exports cheaper and tends to boost its Economy but imports become More expensive and can fuel inflation. The monetary system came under pressure fonday As investors abandoned weaker currencies a such As the peseta. Portuguese escudo Zinsli punt and danish Krone a to buy the stronger German Mark. Dutch Guilder and belgian franc. Portugal s Treasury Secretary. Jose Braz. Said sunday s changes could help restore Calm. In Madrid. Spain s finance minister. Carlos Sorchaga said in a statement that the devaluation of the peseta was needed to restore Confidence in the currency and improve Spain s competitiveness. Spain also announced sunday that it was lifting monetary controls introduced in september to protect the peseta. The controls made it More expensive for foreigners to buy pesetas. By leaders Are expected to review Western Europe s faltering Economy when they meet in Edinburgh Scotland on dec. 11 and 12. The ministers today were to plans for Public infrastructure investment. Big Mac attack a a a. Re of try of a comm no it French Farmers were angry at a French Krmar a flip mrs Larrr it await in sobs Sites for Grain and in the amount of land rss??~�?o5 do co us Cou a be tune i conk Reaca ii Fruto a saws it t is i Fettet and or vim. Is acct Nion riled by Caterpillar plan to impose longer workdays Iii Vii 1 Iichi a _ be Vvas-.-. los a my the no Ibi lit to a hed Oria 111. A Caterpillar inc. Laid t it Egin scheduling workers to 19 and aug voluntary basis imposing the last Paten t _ a a it offer that caused an unsuccessful a a ,.� t act _ Ter pillar the worlds largest a Anuran a i no equipment ended the strike n air a a. A hire replacement workers. E company immediately began i a s of the rejected contract. The a est a tensions health care and . Quota be need to move ahead i an. Or. Company president. Are aun v Miriem iffy in nth a Hgt to z it t. ?�.�?��?�muicn r Namar Mtnor Topaum my i in Xung Igen Tii. _ i a Quot i i input men next a Nam. Tre. A a a i to. In Giuin Arain Vert Utt. To i the a a Cuci Emizar has Long warned the flexibility to schedule so 1 it Worlyn to four 10-hour Days per week or three ?-i iut Iasi but fix Ink hours won t be voluntary. They will a Init cd the comp an m plants where production Ait nudes demand around the clock operations. Overtime Premium Lor working Sun j., -r.?Ts part of a scheduled shift said Jerry b a Laborde lations Ulrev. A Bat Ose Rume will be paid a r Quot a a is Quot rear or. Car. R Biu c asst Sens said in. R a to Fex the wort schedules would disrupt to. A Law a i no Stab shed economic. And and Holiday work. Bank Ami Ause Aoi a 23. Me Asas
