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Dollar drops to lower 78 yen range on U.S. credit rating downgrade

08-08-2011 13:44 BJT

TOKYO, Aug. 8 (Xinhua) -- The U.S. dollar fell to the lower 78 yen range Monday morning in Tokyo following Standard & Poor's downgrading of the U.S. credit rating despite Group of Seven countries' renewed vow to seek stability in financial markets.

At noon, the dollar was quoted 78.10-13 yen compared with 78.37- 47 yen in New York and 78.53-55 yen in Tokyo at 5 p.m. Friday.

The euro fetched 1.4323-4324 dollars and 111.87-91 yen versus 1. 4270-4280 dollars and 111.96-112.06 yen in New York and 1.4158- 4160 dollars and 111.18-22 yen in Tokyo late Friday afternoon.

Editor:Wang Xiaomei |Source: Xinhua

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