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pfennig |
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pfennig 1. a former German monetary unit worth one hundredth of a Deutschmark 2. (formerly) a monetary unit worth one hundredth of an East German ostmark How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| The implied yield spread between the December Eurodollar and Euromark contracts narrowed from a high of 195 basis points to a low of 146 basis points, illustrating the degree to which interest rate expectations had shifted against the dollar; during the same period, the dollar declined more than 12 pfennigs against the mark, falling from DM 1. Callino offers a call-by-call service at rates of 14 pfennigs (US 7. 86 range through most of the period, climbing more than 10 pfennigs from early quarter lows but partially retracing these gains toward the latter half of the quarter. |
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