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Postscript: The ‘May Events’ of 1971

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Abstract

During the weekend of 1–3 May, the influx of dollars into West Germany, which had been substantial ever since the beginning of the year,1 reached astronomical proportions. On the one day, 4 May, the Bundesbank had to buy up over $1,000 m. in order to maintain the dollar parity above the official floor.

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© Peter Coffey and John R. Presley 1971

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