U.S. Monetary Authorities Refrain From Market Intervention In Q4

REGULATIONS

In its final quarterly report for 1995, the Federal Reserve Bank of New York reports no intervention activity by U.S. monetary authorities in the foreign exchange market during the October-to-December period. The dollar depreciated modestly during the quarter and trading declined towards the end of the year, it reports.

During the period, the dollar strengthened 3.7 per cent against the yen and 0.5 per cent against the Deutsche mark, according to the quarterly report. The dollar rose 0.6 per