European Stars and Stripes (Newspaper) - February 06, 1994, Darmstadt, Hesse                                Sunday february 1994 Money matters the stars and stripes Page 23 Dollar watch shown below Are the highest Dollar Exchange rates for the week of Jan. 31 feb. 4 compared with Dollar rates for the same period one year and five years ago. German Mark one Dollar would buy you 1.70 1.60 1 88 1994 i 1993 Mem military Exchange rate British Pound one Pound would Cost you 1 1.47 19891993 belgian franc one Dollar would buy you 35.92 34.01 39.53 dutch Guilder one Dollar would buy you French franc one Dollar would buy you 6-39 5.57 1993 greek drachma one Dollar would buy you 243.77 212.28 155.35 italian lira one Dollar would buy you 1,700 1,372 1994 i Spanish peseta one Dollar would buy you 141.37 117.00 118.40 1994 j turkish lira one Dollar would buy you 17,422 8,941 1994 1993 i fed s boost of interest rate May Aid stocks eventually new York a anyone who doubted the Federal Reserve s resolve to fight inflation found out exactly where the Central Bank stands this past week. Once the initial Shock passes Over the arrival of the widely anticipated some times dreaded Rise in Short term inter est rates the Stock Market could Benefit from the move aimed at sustaining the economic expansion. Fed chairman Alan Greenspan made Clear monday that interest rates would be boosted at some Point by Friday no one needed to wonder when. The fed s action was restrained in that it affected Only the Federal funds rate the rate Banks charge each other for Over night Loans to meet Federal Reserve requirements. It did t affect the higher profile discount rate the interest rate the fed charges on Loans to member Banks. That would have been a much More dramatic move. A gentle nudge upward in Short term rates by one Quarter percentage Point now and possibly by the same amount again before springtime might help rather than hinder the Stock Market according to analysts. This theory is based on the logic that fostering no inflationary economic growth would be Good for corporate prof its because inflation erodes the value of earnings. If As Many Wall Street professionals contend the Market is making a transition from a phase that was driven by in Terest rates to one that is driven by earn Ings growth then keeping the economic expansion intact could be crucial. In such an environment companies whose fortunes fluctuate with economic ups and Downs will tend to outperform the rest of the Market. The greatest gains in the Stock Market will continue to be in the economically sensitive sectors and Industry groups said James Solloway director of economic research at Argus research corp. The shift of Money away from interest rate sensitive plays to producers of real goods is a longer running Story. The and Vance that we be seen in recent months is probably the first round of a More Gener Al and longer term shift to that part of the  but Friday s Steep slide in stocks Gener ated some concern despite the fact that key Market indicators including the Dow Jones Industrial average Only returned to where they stood in mid january. The Way the Market traded it believes this is the first of Many rate in creases said David Shulman of Salo Mon Brothers who has had a cautious traders take their positions at the new York Stock Exchange on Friday when stocks plunged after the Federal Reserve revealed it had nudged interest rates higher. New York Exchange new York up tit 15 most Active stocks i new Yorac Stock Exchange composite trading on Friday. Stock Silt it Nitchy. Stone Container 9,444,700 15vv Offutt tet Fonos of my 6,253,700 73 on 2vgeneral motors 4,800,600 6w Oftle Rwjr Nabisco hid 4,168,800 7tt off Pepsico inc 3,817,100 38vv Foll Citicorp 3,802,100 40v Oft 2% blockbuster ent 3.670,300. 26 of 1 Philip Morris 3.560,200 59h Oft i Wal Mart stores 3.527,800 27h off �4 Uniss corp 3,404,700 14v4 oath in corp 3,343,300 52 of3 to chemical Bank 3,296,100 37 Oft Ford motor co 3,240,300 68 Orth Chrysler corp 3,120,600 61v4 of Kempe corp 2,967,500 41 ottv4 attitude toward the Market for months. If those increases get realized then Well have some  heavy Selling Friday following the fed s announcement grew so intense in the afternoon that the new York Stock Exchange implemented a measure adopted after the october 1987 crash aimed at handling excessive volatility and preserving the Public s Faith in the mar Ket. Nonetheless the Dow Industrial aver age tumbled 96.24 Points or 2.43 per cent to 3,871.42, its largest loss in terms american Exchange new York up the 10 most Active stocks in american Stock Exchange composite trading riday. 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