European Stars and Stripes (Newspaper) - June 25, 1994, Darmstadt, Hesse                                Page 14 the stars and stripes Money matters saturday june 25,1994 a today a rates following arc fixed rates at which Community banking and credit Union facilities will sell foreign currencies to . Personnel for personal use British pound1.59 dutch Guilder .1.74 German mark1.56 greek drachma. 234.5b5 Noto the rat03 above apply within Tho Host country. Figures Aro expressed in dollars to to British Pound other currencies 1q Iho Dollar following Are Interbank rates that fluctuate and should be regarded As the approximate value of the . Dollar to foreign currencies austrian Schilling .11.20 Bahrain Dinar a 0.37675 belgian franc 32.60 British Pound .,.1.5495 Canadian Dollar. 1.3887 danish Krone 6.251 dutch Guilder. 1,7857 French franc.5.451 German Mark. 1.5912 italian lira. 1,571.00 Kuwait Dinar .0.296 norwegian Krone. 6.9255 portuguese escudo 164.60 saudi rial 3.7501 Spanish peseta.131.88 Swiss franc 1.334 turkish lira .31,000.00 nolo figures Oro expressed in dollars to Tho Orlesh Pound other currencies to the do Flur Gold quote $390.70 in ounce Silvor quote $5.41 in ounce sources More Uinta National Bank amp Trust co., the associated press United press International new York Exchange new York up a York stack Exchange Stock. Cell electric Kemper corp Tel Fonos Dit my Philip Morris k Mart corp Shaw industries lit Claiborne Pepsico inc Compaq computer Etc corp inti game tech Eastman Kodak Merck amp co inc h8r Hock inc Conner Peri plus a Tho 15 most Active stocks in new composite finding thursday. A Slot last Nelcha. 5.188,403 46 up i 4.006,100 62vfc up sgt Oil i1/ 2.966.400 55vh 2.559.300 51 w Oil 1 a 2,505,900 15 it unch 2.490,600 16 unto 2,283,000 19 i unch 2,165.400 31 min if is 2,016,400 32v�?T off i 1,915,900 13-vh off a 1,915,600 17vfc off i 1,912,000 47vj up a 1,036,400 30 of unto 1,801,700 40>h Oil i 1,766,000 ibb Otlet c american Exchange new York up american Slock excl. A Tho 10 most Cliva stacks in Inge composite trading thursday Slock sales list Hal chg. Cheyenne so def 2,449.100 71k up in Llanover Ulrech 1,064,400 4 k a it 1w  comm 992,900 2 13-16 Jeff 7-tg explored co la 959,600 i up it it Lrroy corp 833,400 16v a pro adv cd Chol firn 644,000 25k up a Las Trio inc 634,000 2814. It if. Enemy service but corp 542,200 1 b is up 1 4. 437.000 15 a Del i Royal Oak mines 335.400 4 7-16 Audi c Dow Jones new York apr us Jones closing Range of averages thursday High Low Clou Chang 30 Nous lilacs 3752 04 3005.14 3699 d9 olt 25 09 30 transport 1044.02 1612.46 1625 43 up 4 64 t5 utilities 180 03 178.09 178 89 off 1 51 65 stocks 1309 53 1205.93 1292.23 Oft 4.93 experts doubt Dollar s fall will feed inflation in . By Keith Bradsher new York times Washington a. Inflation fears fanned by the dollars drop this  overblown Many economists say. Despite All the talk about tic global Economy they said the United states is More insulated than most countries against such shocks a popular Rule of thumb is that a 10 percent drop in the Dollar against the rest of the worlds cur run pics would add no More than 1 percentage Point to the inflation rate Over the next year or two. The Rule is based partly in the fact that imports account for Only a tenth of All goods and services sold in the United states so changes in their prices Are heavily diluted but some economists now question even this figure saying the actual effect May be much less. In fact they say it May be negligible from the 3 percent drop in the Dollar against the japanese yen and the German Mark in the last two weeks a there s enough Dow spin to inflation still that even with this you still have a Good Chance of coming in under last Vears increase in consumer prices said David c. Munro a Long Horne White House economic forecaster who now works for High frequency economics in Manhattan . Munro who is anticipating More interest rate increases by the Federal Reserve to keep inflation under control estimated that even a 5 percent fall in the value of the yen and the Mark would increase consumer prices in the United states by Only four hundredths of a percentage Point. Indeed Federal Reserve 1 chairman Alan Greenspan played Down the globalization of the Economy during congressional testimony wednesday a at this Point we have Little aggregate evidence that the increased openness of the United states Economy Over the past several decades has substantially altered the process of Domestic Price formation a he said. A Munro and other economists pointed out hat foreign companies have passed on less and less of their losses from Exchange rate movements in recent years choosing instead to try to keep prices Low and preserve their Market shares. This Means . Companies have had less Opportunity to raise their own prices. Economists also note that More of americans imports Are coming from Oil producing countries that Price their ship ments in dollars or from East asian and latin american countries that tie their currencies informally to the Dollar. In the Short run a drop in the Dollar against the yen or Mark has Little effect on this growing share of . Trade although specialists caution that in the longer term a drop might provoke Middle Eastern countries to raise Oil prices to assure that it still takes the same number of barrels of Oil to buy a Mercedes or a Sony television. The Dollar has simultaneously been strengthening in recent weeks against a few currencies notably the Canadian Dollar said Jeffrey j. Schott an economist at the Institute for International economics. . Imports last year from Canada nearly equated imports from Japan and Germany combined. Moreover As dramatic As a record Low against the yen always seems the Dollar has not really fallen very much in the last two weeks. Inflation depends on the size of the drop not whether a yen is Worth a Penny for the first time. So inflation is unlikely to Rise just because a Dollar now buys 101 yen instead of 104 at the beginning of last week or buys 1.56 Marks instead of 1.60  a c of super ugly duckling the a300-600-St super transporter leaves the hangar for the first time thursday at the Airport in Toulouse France. The Airbus which Tyis a total payload of 50,000 kilograms or about 5$ tons will replace the Airbus super Guppy in 1995. The first flight of the super transporter a joint German French project is scheduled for  to France expected to increase Baris Ulm la the number of tourists visiting France this year is expected to surpass the figure of <>0 million achieved in 1993, tourism authorities said. They said arrivals from the United states a a Britain the Netherlands and scandinavian countries Are expected to be around 10 percent higher than last year. Between 2 percent and 5 percent More tourists Are also expected this year from Germany Italy Austria and Belgium. France s 60 million tourists last year were More than any other country a total. How Ever it ranks second to the United slates in tourism revenues. . Firms plan vietnamese resorts Hanoi Vietnam a two . Companies plan to spend $380 million to build resorts on the Sands of what american soldiers knew As China Beach during the Vietnam War. The biggest of the two projects to be located near the Central vietnamese City of Danang will consist of four hotels a conference Center and a Golf course. Its $280 million building Cost would equal the biggest investment made so far by a foreign company in Vietnam. Bib investment group of Chevy Chase md., plans to sign a joint venture Deal within a month to develop the Complex Stewart Stemple the company a managing director in Vietnam said tuesday. Quot Bill s share in the project is expected to be 67 percent. The Likely partner a firm owned by Quang Nam Danang tourist co. And the Peoples committee of Quang Nam Danang province will hold the remaining 33 percent. The vietnamese partner is expected to contribute land Worth $80 million boosting the projects total value to $360 million Stemple said i he Ching Fong group of Taiwan is now the largest single investor in Vietnam with a $280 million Cement factory in the Northern port of Haiphong. Bib Hopes the resort to be built on 536 acres of Ocean front property will attract businessmen from Hong Kong Singapore and Thailand Stemple said. China Beach a known today by its vietnamese name of non Nuoc a was one of two in country rest and recreation spots for . Service members during the War which ended in 1975. The other was in Vung Tau a port farther South. Non Nuoc is seven Miles South of Danang. Another american company Dematteis construction corp., also plans to build a resort on the Beach. That Complex including a five Star hotel town rouses offices  Marina will Cost at East $100 million said a1 Dematteis a company director. Dematteis construction based in i Mont ., and its partner dragon age investments ltd., registered in the British Virgin islands expect to hold a 70 percent interest i the project. The two Are negotiating a joint venture agreement with Danang tourism services co., which will own 30 percent