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United States Dollar Crisis #15748

ABC Evening News for Wednesday, May 05, 1971
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(Studio) West Germany Central Bank stops purchase of United States dollars; dollar value weakened by: Vietnam War; high cost of American goods; large United States expenses abroad for GIs, tourists.
REPORTER: Harry Reasoner

(Paris, France) Tourists allowed to exchange only small dollar amts. or not at all. Money speculators turn billions of dollars into any currency seeming more solid; dollar weakness due to huge payments deficit with continued refusal to devalue dollar; immediate crisis due to belief Germany may increase value of mark in relation to dollar.
REPORTER: John Rolfson

(DC) United States conts. to resist devaluation pressure from other cntrys; Treasury Secretary Connally conts. stabilization tactics.
REPORTER: Louis Rukeyser

Reasoner, Harry;
Rolfson, John;
Rukeyser, Louis

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