BANK OF FRANCE SETS MONEY MARKET TENDER

  The Bank of France said it invited offers
  of first category paper today for a money market intervention
  tender.
      Money market dealers said conditions seemed right for the
  Bank to cut its intervention rate at the tender by a quarter
  percentage point to 7-3/4 pct from eight, reflecting an easing
  in call money rate last week, and the French franc's steadiness
  on foreign exchange markets since the February 22 currency
  stabilisation accord here by the Group of Five and Canada.
      Intervention rate was last raised to eight pct from 7-1/4
  on January 2. Call money today was quoted at 7-11/16 7-3/4 pct.
  

