The dollar closed the week stronger on international money markets, buoyed by what a U.S. bank economist called signs that the government is turning "to an effective energy program."
The British pound closed Friday at its highest rate in relation to the dollar since October 1978, and a London dealer said the rise reflects North Sea oil prospects, "which will make Britain the only industrialized country to be a net exporter of oil."
Gold was mixed. In Zurich it closed at $239.375 an ounce, down from $240,875 Thursday. In London gold closed at $239.725 an ounce, down from $241.125. In New York, the spot price for gold was $241.10 at the close of trading.
In Tokyo, the dollar edged up to close at 215.30 yen, compared with 214.60 at Thursday's close. In Frankfurt, the dollar closed at 1.8938 marks, up from 1.8862 Thursday; in Zurich at 1.7145 Swiss francs, up from 1.7081; in Paris at 4.3350 French francs up from 4.3255; in Brussels at 30.43 Belgian francs, up from 30.35, in Amsterdam at 2.0370 guilders, up from 2.0290, and in Milan at 841.70 lire, up from 841.45.