European Stars and Stripes (Newspaper) - December 1, 1993, Darmstadt, Hesse                                Wednesday december 1, 1993 j Money matters i the stars and stripes Page 15 a today a hates following Are fixed rates at which Community banking and credit Union facilities will sell for eign currencies to . Personnel for personal use a a German Mark 1.67 British Pound 1.53 dutch Guilder 1.86 greek drachma i. 238.0114 1 not the fatal above apply within la twit country. Figure Art expressed in dollars to 1h# British Pound other currencies to the Dollar. Following Are Interbank rates that fluctuate and should be regarded As the approximate value of the . Dollar to foreign currencies. Italian lira 1,700.50 Turkla lira 13,695.50 Spanish Pasata 140.24 portuguese escudo eee epee Yeeee 175.00 austrian Schilling 12.0225 saudi Royal 3.7595 bahraini Dinar 0.3767 Kun Wall Dinar 0.2985 norwegian Krone. 7.432 danish Krona  6.7725 British Pound  1.4575 German Mark 1,7111 Swiss franc  it Tepee a eee a 1.492 French franc .5.914 dutch Guilder 1.917 belgian franc 36.22 Canadian Dollar 1.3363 note figures Are expressed in dollars to the British Pound other currencies to the Dollar Gold quote $370.b0 an ounce. Sliver quote $4.46 on ounce new York Exchange new York Kupij a the 15 most Active Stock in new a a York Stock Exchange composite trading monday. Stock Al Jet nit of. Nation Bank 7,076,400 47 44 up i Yff soc dead \ 3,035,300 2444 Oft in. Tet Fonos of my 3,485,800 5614 Oft 54 Wal Mart stores 3,352,900 29 w off 44 Rah Nabisco hid 3,015,800 -614 Oft i Merck so inc 2,884,700 3314 off i ism Core 2,487,900 54 44 0 1144 Citicorp 2.457,400 35 a Iipp Sears Roebke pop 2,202,800 55 a off 44 Sean Roebuck 2,181,900 53 a of 2 vat amp to company. 2,119,000 5414 off Texaco inc 2,118,600 63 i off am bar Lek rest 2,027,50 12514 off 44 global Marine 1,992,300 314 off i Baker Hughes 1,985,900 1914 off 1 i american Exchange new York american Stock Stock Royal Oak mines Energy service Echo Bay mines Weatherford inc atari corp Nabora Industry Amdahl corp Hasbro inc Cheyenne Soltyr hello Netles inc a the to most Active stocks in Ange composite trading monday Tatoli 1,168,100 1.137.000 1,087,300 790,700 474.100 371.600 344.600 321,800 269,000 232,500 lost 414 11-16 11 a 9v� 9 61 5v4 3844 2944 414 net cake. Off of i of i off i up i Eft i off i up 1 off 2 off 44 Dow Jones new York up Dow Jones closing Range of averages monday. High Low close change 30 industrials 3721.67 3654.33 3677.60 off 615 to transports 1771.52 1739 89 1756,99 up 17.10 15 utilities 22911 22531 226.40 off 0.60 65 stocks 1376.8i 1352.75 1362.25 up 269 Consumers stand to gain from open s Oil Gamble new York a from motorists to homeowners to business people Consumers should Benefit from Opecz a decision last week to keep Oil production at current Levels. The organization of Petroleum exporting countries is gambling that cold weather will drive up demand and prices for Oil. But the immediate effect of its decision was to Send prices plunging by More than $1 a barrel. U the lower prices stick Consumers May see cheaper gasoline and heating Oil in the next few weeks analysts said monday. Eventually cheaper Oil prices can reverberate throughout the Economy dampening expectations of higher inflation and lowering everything from mortgage rates to the Cost of airline tickets. But analysts cautioned against expecting too much. A the key is whether the decline is transitory or More permanent in nature a said Lawrence Goldstein president of the Industry supported Petroleum Industry research foundation. A for the to a we might see gasoline prices under $1 in the next month.1 a Morris Greenberg economic forecaster ment prices do look to be fundamentally  Ann Louise Hittle director of world Oil at Cambridge Energy research associates cautioned that several variables could Send the Price of Oil right Back up next year. Hittle said such variables would be a if Russia Cut its Oil exports because of an especially cold Winter at Home. A or if Iraq hits snags in its push to have the United nations lift the persian Gulf War embargo on its Oil exports. But in the Wake of Opecz a decision prices for Light Sweet crude Oil the Indus try a Benchmark tumbled $1.07 monday to $15.31 a barrel for january delivery on the new York mercantile Exchange. Energy analysts estimated retail gasoline prices would drop 3.5 cents to 7 cents a4 gallon in the next few weeks. Such a savings would erase the effects of october a increase in the Federal gasoline tax of 4vi-cents a gallon. A we might see prices under $1 in the next month a said Morris Greenberg manager of Energy services at the wefa group an economic forecasting service in Bala Cynwyd a. But others cautioned that Price cuts May come slowly depending on the demand for gasoline in different areas and Competition among filling stations. The average Price of . Reg Larun leaded gasoline was $1.12 a gallon in the american automobile association s nov 16 Survey. But it appears to have dropped since then said aaa spokesman go cuff Sundstrom. For heating Oil analysts predicted a drop of 4 to 5 cents gallon. Land of the rising Sun becomes a setting Economy . Urges Taiwan to Cut Trade tariffs Washington a the United states is asking Taiwan to Cut tariffs on 2,800 products As a condition for joining the world body that governs Trade. The request covers american products that Are the most competitive in Taiwan and if accepted should help to improve american exports there according to . Trade representative Mickey Kan Tor. _ the United states has been running a $5.86 billion to de deficit with Taiwan through the first eight months of this year. Tokyo apr profits arc Down unemployment is rising the Stock Market has lost almost 20 percent of its value in the last month. A a Winter has come Early to the japanese Economy a and there is no Promise of revival in the Spring. A a the disappointment is pretty com plete a said Richard c. Koo senior economist at Nomura research Institute. A nothing on the horizon suggests an economic recovery or recovery in corporate profits. There is nothing to look Forward to 10. A a. A. On monday the Tokyo Stock markers key Index plunged to its lowest level this year. After hours of Panicky trading the a 225-Issue nikkei Stock average shed 647.66 Points or 3.87 percent to close at 16,078.71. Even worse analysts said the drop was not a reaction to any specific event just the Lack of Good news. Mondays fall capped a monthlong decline of More than 3,600 Points a and added to snowballing pessimism Over the prospects for an economic recovery. On tuesday the Market was Able to make up some of mondays lost ground in nervous trading studded with abrupt  and  nikkei Index closed at 16,406.54, up 327.83 Points or 2.04 percent. Comments by key government officials on plans to help stimulate the sluggish Economy injected a rare note of optimism into a gloomy Market. But fresh reports of an increase in unemployment Ana falling Industrial output limited the markets recovery. Still the recent news has been mostly dark. Consider the following a Japan a jobless rate hit a six year High of 2.7 percent in october according to government figures released tuesday. While Low in comparison with most Industrial countries the rate was the highest since february 1988.also according to an Asahi Bank re port the jobless rate would be about 6.5 percent if calculated by . Standards. A Many businesses have announced cuts in jobs or production. As workers Man the phones at the Tokyo foreign Exchange an overhead indicator lashes the latest . Dollar japanese yen rate. The yen s recent climb has contributed to jftp3ns economic woes raising the Price of the country s exports. R a in recent weeks japanese manufacturers reported Sharp drops in profits across the Board for the six months that ended in september. A department store sales arc Down. Plant and equipment investment and machinery orders All negative. A lists of economic indicators look like a temperature Chart for the North pole a in december. A Japan a Auto exports plunged 25 percent in october which one Industry official attributed to a prolonged slump in foreign demand and to this years rapid appreciation of the yen. On the positive Side prices Arentt rising. Consumer inflation is running about 1.4 percent annually and producer prices Are falling. Help wanted signs appear on most Tokyo City blocks but they Are for jobs no one seems to want waitressing clerking cleaning. When prime minister Morihiro Hoso Kawa took office in August he pledged to wipe out political corruption promote government efficiency and revive the slumping Economy in that order. Now he faces mounting pressure to make the Economy his no. 1 concern. A the Market s direction depends on what the government is or Isnit going to do Quot said Kathy Matsui strategist at Barclays Dezoete Wedd. A so far it just sits smack there and seems to do  one possible move would be to set aside political Reform legislation which appears headed for trouble in the upper House and enact an income tax Cut. Economists disagreed however whether a tax Cut would have much real in pact. Many said they believe Thrifty Consumers would just sock the extra Money away instead of spending it. R j