Business: The Dollar Fights Back

A well-dressed man walked into a West German bank last week, drew a gun and told a cashier: "I want only Deutsche Marks. Don't give me any dollars, for heaven's sake." He made off with 54,000 marks.

Such are the depths of devaluation and disrepute to which the once almighty dollar has fallen. So far this year the German mark and the Swiss franc have appreciated about 35% against the dollar; the French franc has risen 25%. This is causing prices of many European exports to climb intolerably and threatening a number of Continental industries....

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