European Stars and Stripes (Newspaper) - July 1, 1994, Darmstadt, Hesse                                Page 18 the stars and stripes Money matters Friday july 1,1994 today s rates following Ace fixed rates at which Community banking and credit Union facilities will sell foreign currencies to . Personnel for personal use British Pound. 1.58 dutch Guilder. 1.74 German Mark. 1.56 greek drachma. 234.5558. Nolo Tho rates above apply within Tho Host. Country. Figures Afa expressed in dollars to Tho British to ind other currencies to the Dollar. Following arc Interbank rates that fluctuate and should be regarded As the approximate value of the its. Dollar to foreign currencies. Austrian Schilling. 11.224 Bahrain Dinar. 0.37675 belgian franc. 32.52 Tillish Pound. 1.5373 Canadian Dollar. 1.3823 danish Krone .6.265 dutch Guilder 1.7857 French franc. 5.471 German Mark ,.,., 1.5964 italian lira. 1,584.00 Kuwait Dinar. 0,29515 norwegian Krone. 6.9565 portuguese escudo. 164.00 saudi rial .3.7501 Spanish peseta .130.85 Swiss franc. 1.346 turkish lira. 31,000.00 note figures ars expressed in dollars to the British Pound other currencies to the Dollar. Gold quote $385,40 an bunco. Silver quote $5.26 an ounce a sources merchants National Bank amp Trust co. A a the associated press United press International c american Exchange new York a sales.  Price and and change of inc 10 Moat alive America Stock Exchange Csecs Trade nationally Al More a an St. Name a volume last chg. Cd cysts a21153,890 7vi a i a exit cola. A. 1,573 Ico 174 i Hasbro 1.4.15 900 29" a Piaf a a 679.300 35/16-7.16  a 303.6cj 3 i Ivi co. ,6 7 7.600 a cl3 v. Cel Lampf. A 531.sco 2d�?~.a 14 by times i s t 00. 2 3 i a  n 268 fc�?~9 19. Spur a. 311,300 it to 9-64 Dow Jones new York apr Dow Jones dosing Range of aver Ages on wednesday  a. High Low close change 3711.73 3645.63 3667.05 off 2.59 1613.76 1590.63 16 15.61 up 12.13 179 67 176-5 t 178.16 up 1.06 1292.65 1271.26 1230.76 up 3.79 30 industrials -20 transport 15 utilities 65 seeks yen s Rise is sign of trouble in by the Washington Post Washington a despite political turmoil in Tokyo the japanese yen continued to strengthen thursday with the Dollar falling to 98.95 yen Down 0.32 yen from wednesdays Tokyo close. Some senior . Officials and private analysts argue that these dramatic movements in the currency markets amount to a yen crisis rather than a Dollar crisis. They contend that the yen is being pushed upward by Japan a continuing Large Trade surplus to a level that is causing serious discomfort for japanese in lbs considers bid for ivc papers say new York a lbs and the ivc Home shopping network Are discussing a merger according to reports published thursday lbs inc. Would acquire the smaller ivc inc. In a Stock and Cash transaction the los Angeles times and the new York times reported. The Deal would be Worth More than $2 billion the los Angeles times said. Ivc chairman Barry Diller would become chief executive of the combined company the reports Sid. Laurence a. Tisch the 71-year-old lbs chief executive would agree to retire when the merger was Complete the los Angeles times said. Diller who. Lost a Battle earlier this year to acquire Paramount communications worked at Abc and then developed the Fox television network before moving to ivc. The newspapers cited sources close to the discussions whom they did not identify. Lbs spokeswoman Ann Morfogen would not comment to the a. Ivc officials did not return messages. The los Angeles times said negotiations have been under Way for several weeks but it did not say How near they were to completion. The new York times said that the talks had fallen apart at least once and that there is no guarantee a final agreement will be reached. This analysis stressing Japan a structural problems rather than those of the United states is one reason that the Federal Reserve and the Treasury have resisted Calls to raise . Interest rates to Shore up the Dollar. Officials said they think the problem currency Isnit the Dollar but the yen Japan is piling up huge amounts of foreign Exchange that arc not being recycled to the rest of the world either by increases in japanese imports or by a big outflow of Money in the form of investments abroad. Currency markets offered some Evi dance to support this View wednesday and thursday As the Dollar rebounded against the German Mark. On thursday for instance the Dollar jumped 2 pfennig to l56 at military banking facilities. For japanese exporters the yen a recent surge has created what the japanese Call end aka a or Strong yen crisis. Profit margins has e fallen As japanese companies try to absorb the Cost penalty of the higher yen. Some analysts said the yen could keep rising until the japanese government finds a  deregulate Many sectors of the Economy and encourage More irn ports particularly of consumer goods. That would bring its Trade into balance rather than continuing the surplus that economists say has helped lift the yen a value. A i think they Are in serious trouble Quot said Brookings institution economist Barry Bosworth who has studied the japanese Economy for several years. A there is too much nonsense being spread that this is a crisis of Confidence to the . Government a. A number of foreign currency traders such As those at National Westminster Bank in London agreed this week that the political health of the Clinton administration and its policies have Little to do with recent Exchange rate movements. It is. The situation in Japan that is driving the yen Dollar relationship they said Bosworth said the fundamental  Japan is that the nation saves too much of its income rather than con suming it a to keep its Economy in balance with the rest of the world by Matching imports with exports. The outflow of investment capital which had been keeping things in balance slowed three years ago after japanese real estate values collapsed and Japan a Stock Market the . Dollar stands at 98.77 yen during mid morning trading thursday at the Tokyo foreign Exchange Market. Fell More than 50 percent. The result was a hefty appreciation of the yen. 1 a capital outflow such As the Purchase of an american company or . Stocks or Bonds by japanese investors holds Down the value of the yen because the investors must sell yen to get the dollars needed to pay for what they Are buying in the United states. Similarly importing More goods and services Means that yen must be sold to get another currency with which to pay foreign producers. Bosworth said the Impact of the stronger yen has been so great that the Export share of the japanese Economy is. A shrinking rapidly a something that is not. Happening Tony other Industrial country. In a sense he said a Japan is withdrawing from the world  the Sharp Rise in the yen a value this year coincided with a movement of investment capital Back to Japan from other countries including the United states in some., cases investors were seeking to take advantage of the possibility that the japanese Stock Market would show larger Gaim than . Markets where prices wire fallow in others the investors a who in eluded japanese owned firms in other countries a were sending Money Home to help the Parent firms cover losses. Panel to take up pay raise after july 11 by Mike Causey the Washington Post Washington a the Senate House conference that will set the amount of the 1995 Federal pay raise will take place sometime after july 11 when Congress returns from its Independence Day recess the raise is part of the Treasury postal service general government appropriation Bill. At Issue is whether White Collar Federal workers get the 1.6 percent raise proposed by president Clinton and tentatively endorsed by the Senate or a double barrelled higher octane raise approved by the House. \ the House plan is less than what Petrk ers had been promised by the 1990 Federal pay act. But it would guarantee employees a National pay raise of 2.6 percent plus City by City locality adjustments. Federal agencies would have to absorb the Cost of the higher House pay raise but most could do it without resorting to layoffs or furloughs. The pay difference Between the House and Senate Bills though a Small percentage represents Many thousands of dollars in the lifetime value of salary life insurance annual leave and pension benefits. \ the Senate Bill also would standardize and guarantee a 25c percent a availability pay differential for thousands of Federal Law enforcement personnel who work in criminal investigations. Y