Full text of H.13 Selected Interest and Exchange Rates, Weekly Series of Charts : April 10, 1995

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Selected Interest 6f
Exchange Rates
Weekly Series of Charts

April 10,1995
Prepared by the
FINANCIAL MARKETS
SECTION




DIVISION O F
INTERNATIONAL FINANCE
BOARD O F GOVERNORS
FEDERAL RESERVE SYSTEM

Washington, DLC. 20551

Table of Contents

TABLES

1. LATEST FIGURES PLOTTED
2. DAILY CERTIFIED SPOT
EXCHANGE RATES
H.10 RELEASE
CHARTS

1. SPOT EXCHANGE RATE INDICES
2. 3-MONTH FORWARD EXCHANGE RATES
3. GOLD PRICE—LONDON
4.
5.
6.
7.

CALL MONEY RATES
3-MONTH INTEREST RATES
EURO-DOLLAR DEPOSIT RATES
SELECTED EURO-DOLLAR AND
U.S. MONEY MARKET RATES

8. INTEREST ARBITRAGE: 3-MONTH FUNDS
9. LONG-TERM GOVERNMENT BOND YIELDS
10. INDUSTRIAL STOCK INDICES




SUBSCRIPTION RATES:

Weekly $30.00 per year or $.70 each in the United
States, its possessions, Canada, and Mexico.
Elsewhere. $35.00 per year or $.80 each. Address
requests to Publications Services Division of
Support Services, and make payment remittance
payable to the order of the Board of Governors
of the Federal Reserve System in a form collectible at Par in U.S. Currency.

CHART 1

SPOT EXCHANGE INDICES
DOLLAR PRICES OF FOREIGN CURRENCIES A N D WEIGHTED A V E R A G E VALUES (THIN LINE)
A V E R A G E S FOR W E E K ENDING W E D N E S D A Y

RATIO SCALE
MARCH 1973=100
115
FOREIGN C U R R E N C Y
PRICE OF U.S. DOLLAR

RATIO SCALE
MARCH 1973=100
150
140

BELGIAN FRANC

100

130

120
85

— | 110

100
•

I

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I

'

'

I

I

'

•

•

I

'

'

'

I

I I

I

I

I

I

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'

'

I

I

I

I I

— JAPANESE YEN
SWISS FRANC

CANADIAN DOLLAR
U.K. P O U N D

180 —

J U

DUTCH GUILDER

215

GERMAN MARK

f

195

160
175
140

120
100

155
'

i

i

i

90

'

i

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i

i

i

'

i

'

1_L

'

I

•

I

'

1

1

I

1

•

I

I

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I

'

135
55

ITALIAN LIRA

FRENCH FRANC

45

80
35
70

60

'

1

1




I

1

1

'

1993

I

1

'

I

I

I

'

»

1995

i

i

'

I

i i i
1993

I

i

i

i

I V

i
1995

25

CHART 2

3-MONTH FORWARD EXCHANGE RATES
PREMIUM (+) OR (-)
AVERAGES FOR W E E K ENDING W E D N E S D A Y
PERCENT PER ANNUM
2

PERCENT PER ANNUM
2
U.K. P O U N D

I

I

I

I

I

I

I

I

I

I I

I

I

I I

CANADIAN DOLLAR

JAPANESE YEN

SWISS FRANC

DUTCH GUILDER

z z

i

i

'

I




' ' i
1993

ITALIAN LIRA

n

FRENCH FRANC

I

i

'

• 1

i

i i
1995

1992

1994

CHART 3

PRICE OF GOLD IN LONDON
A V E R A G E S FOR W E E K ENDING W E D N E S D A Y
U.S. DOLLARS PER FINE OUNCE
420

U.S. DOLLARS PER FINE OUNCE
420

12.5 Kg BARS
AFTERNOON FIXING PRICE
400

400

380

380

360 —

360

340 —

340

320

J
1991




1

I

I
1992

I

I

L

J
1993

I
1994

I

I

I

I
1995

L

320

CHART 4

CALL MONEY RATES
WEEKLY SERIES
PERCENT PER ANNUM
6

PERCENT PER ANNUM
10

SWITZERLAND
U.S. FEDERAL FUNDS

JAPAN

NETHERLANDS

GERMANY

FRANCE

CANADA

UNITED KINGDOM




1993

1995

1993

1995

CHART 5

3-MONTH INTEREST RATES
WEEKLY SERIES
PERCENT PER ANNUM
10

PERCENT PER ANNUM
9
CANADIAN FINANCE PAPER

WEIGHTED AVERAGE
FOREIGN RATE

U.S. CD'S
i

1

i

I

i

'

i I

1 1

i

I

i

i i

1

1

1

I

1

1

1

1

l

1

1

l

1

1

'

3
11

NETHERLANDS INTERBANK RATE

U.K. INTERBANK STERLING

I

I

I

I

I

I

I

I

I

I

I

I

I '

I

I

I

'I

I I

I

I

3
13
11

FRENCH INTERBANK RATE

JAPANESE CD RATE
3 —

1
10

'

•

'

I

'

•

'

l

1

•

1

1

I

1

1

1

1

I

5
12
10

GERMAN INTERBANK RATE
SWISS INTERBANK

•

»

i I




i i i
1993

l » i

i

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1995

i

i i

I

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1993

l

' '

i

l i

i
1995

i

CHART 6

EURO-DOLLAR DEPOSIT RATES L O N D O N
AVERAGES FOR W E E K ENDING W E D N E S D A Y
PERCENT PER ANNUM
8




PERCENT PER ANNUM
8

OVERNIGHT

3-MONTH

7-DAY

6-MONTH

1-MONTH

1-YEAR

1993

1995

1993

1995

CHART7

SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES
DIFFERENTIAL: PLUS(+), FAVORS BORROWING IN U.S.
AVERAGES FOR W E E K ENDING W E D N E S D A Y
PERCENT PER ANNUM
7

PERCENT PER ANNUM
7

3-MONTH
EURO-DOLLAR DEPOSITS

OVERNIGHT
EURO-DOLLAR DEPOSIT

90-DAY CD'S
DASHED LINE

FEDERAL FUNDS
DASHED LINE

DIFFERENTIAL

DIFFERENTIAL
i

j — i — i — I — i



i
i
1993

I

i

i

i

i

i

i
1995

,n,

J

1

I

I

i

I
I
1993

y

I

I

'

l

l
1995

CHART 8

INTEREST ARBITRAGE: 3-MONTH FUNDS
DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS
AVERAGES FOR W E E K ENDING W E D N E S D A Y
PERCENT PER ANNUM
7

6

PERCENT PER ANNUM
7
CANADIAN FINANCE
CO. PAPER. C O V E R E D

INTERBANK STERLING
COVERED LONDON

—

5 —

U.S. COMMERCIAL PAPER
DASHED

EURO-DOLLAR DEPOSITS
DASHED LINE

3 —

i

i

i

1

i

i

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1

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i

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I i

i i

•

i

DIFFERENTIAL

I

I

I

I

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I

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I

I

I

I

I I

I I

1

1

1

•

I

i

i

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1

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I

jEURO-DOLLAR DEPOSITS
DASHED LINE

uN

» I

i

SWISS INTERBANK (SF) C O V E R E D

EURO-DOLLAR DEPOSITS
JX
DASHED LINE

1

i

DIFFERENTIAL

INTERBANK DM
COVERED FRANKFURT

1

i I

1

1

I

I

•

'

I

'

DIFFERENTIAL

'

I

I

1

I

1

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1

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I

DIFFERENTIAL

V1 ""v*Amv

'

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I

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I ' '
1993

I

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I

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1995

•

» •

I

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1993

I

'

•

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l

i i i 11
1995

CHART 9

LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
PERCENT PER ANNUM
9

PERCENT PER ANNUM
11

UNITED KINGDOM

FRANCE

CANADA

\ \ \ \ \ \ \ \ \ \ \ \ \ I
SWITZERLAND

JAPAN

NETHERLANDS




1993

GERMANY

1995

I
1993

I I I
1995

CHART 10

STOCK INDICES
WEEKLY SERIES
RATIO SCALE
1986=100
220
UNITED STATES

RATIO SCALE
1986=100
200
UNITED KINGDOM

200

180

180

160

160

140
250
225

120
160

SWITZERLAND

JAPAN
140

200

120
175

100

150

125

80

160

180

GERMANY

CANADA

140

160

120

140

100

120

190

100
180

FRANCE

NETHERLANDS

170

160

150

140

130

120

110




1993

1995

1993

1995

100

8-Mar-95
Chart 1.

15-Mar-95 22-Mar-95 29-Mar-95 5-Apr-95

Spot Exchange Rates and Indices

Noon buying rates

(U.S. cents, weekly averages)

Belgian franc
Canadian dollar
French franc
German mark
Italian lira
Japanese yen
Netherlands guilder
Swiss franc
U.K. pound

3 .4278
70.887
19.986
70.857
0.06051
1.07587
63.154
84.374
162.16

3.4466
70.750
20.042
71.309
0.05974
1.10461
63.551
85.636
159.61

3.4551
70.973
20.086
71.362
0.05829
1.11807
63.622
85.872
158.40

3.4603
71.261
20.237
71.363
0.05839
1.12612
63.584
86.325
159.88

3.5079
71.597
20.641
72.171
0.05819
1.14903
64.448
87.777
160.83

135 .07
70 .65
90 .06
199 .33
34 .74
281 .70
181 .30
271 .44
65 .59

135 .81
70 .52
90 .31
200 .60
34 .29
289 .22
182 .44
275 .50
64 .56

136 .15
70 .74
90 .51
200 .75
33 .46
292 .75
182 .65
276 .26
64 ,
.07

136 .35
71 .02
91 .19
200 .75
33 .51
294 .86
182 .54
277 .72
64 .66

138 .23
71 .36
93 .01
203 .02
33 .40
300 .85
185 .02
282 .39
65 .05

119 .
.43
59 .
.19
76..52
194 .
.57
26..16
284 ..52
163.,90
51. 85
246.,21
52 .39
83. 66

119 ,
.28
59 .
.28
76,.93
193,.95
26..13
285..96
163..32
51..19
246..86
52..78
83 ..38

119 .94
59 .04
77 .90
194 ,
.60
25,.80
289,.71
164,.21
50..31
248..95
52 .
.63
82..49

-1 .87
-2 .25
1,.26
-4 .38
,
4 .22
,
1..06
2.
.61
-0..39

-1. 93
-2 .18
1. 25
-5. 29
4 .18
1. 14
2. 67
-0. 37

-1. 97
-1. 83
1. 24
-4 .84
4 .25
1. 14
2 .63
-0. 36

-1.,97
-1.,35
1. 57
-4 .64
4 .61
1. 45
2. 86
-0. 33

378..57

383..73

382. 74

382. 49

390. 29

5..93
5..90
8..04
6..30
4 .84
2 .15
4 .91
3. 60
5. 30

5..94
5..90
8.,03
7.,63
4 .85
2. 15
4 .91
3. 43
5. 03

5. 97
5. 88
8. 01
7. 78
4. 82
2 .14
4 .93
3. 55
5. 68

6. 06
5. 98
7. 98
7. 75
4. 54
2. 12
4 .89
3. 56
6. 35

6. 20
6. 09
8. 02
7. 66
4. 47
1. 79
4. 49
3. 40
5. 75

Indices, March 1973 base rates = 100
Belgian franc
Canadian dollar
French franc
German mark
Italian lira
Japanese yen
Netherlands guilder
Swiss franc
U.K. pound

3, Mar. :
1973=100
Belgian franc
Canadian dollar
French franc
German mark
Italian lira
Japanese yen
Netherlands guilder
Swedish krona
Swiss franc
U.K. pound
U.S. dollar
Chart 2.

3-Month Fc

Canadian dollar
French franc
German mark
Italian lira
Japanese yen
Netherlands guilder
Swiss franc
U.K. pound

118 .72
59 .28
76 .29
193 .44
27 .31
273 .21
163 .00
52 .13
242 .32
53 .91
83 .93

119 .05
58 .96
76 .28
194 .27
26 .85
280 .51
163 .61
52 .21
245 .37
52 .80
83 .60

Premium or Discount
-1 .94
-1 .19
1 .26
-4 .06
,
,
4 .16
1,.17
2 .52
,
-0,.43
Fixing

U.S. dollars per fine ounce
Chart 4.

Call Money Rates

U.S. federal funds
Overnight Euro-dollar deposits
Canada
France
Germany
Japan
Netherlands
Switzerland
United Kingdom




8-Mar-95
Chart 5.

3-Month Interest Rates

U.S. 9 0 - day CD's, secondary market
Canadian finance paper
French interbank rate
German interbank rate
Japanese CD rate
Netherlands interbank rate
Swiss interbank rate
U.K. interbank sterling
Weighted average foreign interest rate
(G-10 Countries)
Chart 6.

6.18
8.30
6.85
5.00
2.24
5.05
3.74
6.70
5.54

6.17
8.34
8.33
5.00
2.15
5.05
3.66
6.59
5.71

6.13
8.35
8.25
4.9 6
2.11
5.03
3.59
6.51
5.69

6.13
8.34
8.04
4.95
2.03
5.01
3.53
6.63
5.62

6.16
8.38
7.56
4.67
1.81
4.78
3.40
6.62
5.36

90
94
04
18
39
6.81

5.90
5.94
6.05
6.18
6.38
6.71

5.88
5.94
6.00
6.10
6.31
6.65

5.98
6.01
6.01
6 .14
6.33
6.64

6.09
6.00
6.06
6.19
6.38
6.71

5.
.88
.97
5.
-0 .09
.

,
5 .98
6 .06
.
-0 .08
,

Euro-Dollar Deposit Rates

Overnight
7-day
1-month
3-month
6-month
1-year
Chart 7.

Selected Euro-dollar & U.S. Money Market Rates

Overnight Euro-dollar deposits
U.S. federal funds
Differential

5 .90
,
5 .93
.
-0 .03
,

3-month Euro-dollar deposit
U.S. 90-day CD's, secondary market
Differential

6,.18
6 .18
.
-0 .00
,

Chart 8.

15-Mar-95 22-Mar-95 29-Mar-95 5-Apr-95

5 .90
,
5 .94
,
-0 .04
6.
, 18
6,.17
0 .01
,

6 .09
6 .20
.
-0.. 11

6 .10
.
6 .13
.
-0 .03
.

6.
, 14
6 .13
,
0 .01

.
6 .19
6..16
0,.02

Interest Arbitrage, 3-Month Funds

Euro-dollar deposit
Interbank sterling (Lr rid
Differential

6..18
6..26
-0 .09
,

6 .18
,
6,.19
-0 .02

6 .10
.
6 .13
.
-0 .03
.

6 .14
,
6..26
-0 . 12

6,.19
6..28
-0..10

6 .16
.
6 .32
.
-0 .16
.

6 .17
6 .43
-0 .26
,

6..14
6 .38
,
-0,.24

.
6 .13
6 .33
,
-0 .20
,

6 .17
.
6 .37
,
-0 .20
.

Euro-dollar deposit
Interbank DM (Frankfurt), covered
Differential

6 .18
.
6 .28
.
-0.. 10

6 .18
,
6 .28
,
-0 . 10

6 . 10
6 .22
.
-0 .12
,

6.
, 14
6 .21
,
-0 .07
,

6 .19
6 .26
,
-0 .07
,

Euro-dollar deposit
Swiss interbank, covered
Differential

6..18
6..28
-0..11

6,.18
6 .30
-0,.12

6..10
6..28
-0..18

6.. 14
6..18
-0,.04

6..19
6..28
-0..10

8 .60
7 .92
,
7 .16
,
3 .87
,
5,.04
7 .32
,
8 .46
,
7 .13
,

8..56
7.
,83
7.
,12
3.
.63
5,
,00
7.
.27
8 .43
«
7.
.15

U.S. commercial pape r
Canadian finance pa e?
Differential

Chart 9.

, covered

covered

Long Term Government Bellwether Bond Yields
10-year maturity, where available

Canada
France
Germany
Japan
Switzerland
Netherlands
United Kingdom
United States
Chart 10.

Stock Indices

8..81
8..12
7..38
4 .23
.
5..25
7,.55
8..64
7 .37
.

8 .62
8 .16
7 .36
4 .16
5 .20
7 .47
8 .62
7 .18

8 .64
7 .96
,
7 .17
,
4 .03
,
5 .07
,
7 .35
,
8 .43
7 . 13

(Wednesday figures)

Canada
137..83
142 ,
140 .59
.07
143 .26
France
137,.58
140 ,
136 .64
142 .98
.83
Germany
112 .
,71
110,.28
112 ,
.21
106 .41
Japan
101..03
95 .66
100 ,
.00
99 .29
Netherlands
144 .
.99
145 .15
145 .20
144 .61
Switzerland
211,.39
210 .10
208 .42
208 .85
United Kingdom
177 ,
.81
181,.38
185,.74
186 .66
United States
192 ,
.31
196 .87
195 .66
199 .84
Indices (in order, rebased to 1986=100) are Toronto Composite, CAC General spliced
at 22dec93, FAZ Aktien, Tokyo SE (Topix), CBS All-General, Swiss Bank Index,
Financial Times Ordinary, NYSE Composite



142 ,
.80
144 ,
.99
109 .
.00
96..72
146,.02
209,.88
189 ,
.61
201..04
to SBF250

FEDERAL RESERVE statistical release
' •

H.10(512)

Rt^~. •

April 10, 1995

FOREIGN EXCHANGE RATES
FOR THE WEEK ENDING

APRIL 7, 1995

The Board of Governors of the Federal Reserve System is advised that the Federal Reserve Bank of New York has certified
for customs purposes the following noon buying rates in New York City for cable transfers payable in foreign currencies:

COUNTRY

MONETARY
UNIT

^AUSTRALIA
AUSTRIA

DOLLAR
SCHILLING
BELGIUM
FRANC
CANADA
DOLLAR
CHINA,P.R.
YUAN
DENMARK
KRONE
*EURO COMMUNITY ECU
FINLAND
MARKKA
FRANCE
FRANC
GERMANY
D. MARK
GREECE
DRACHMA
HONG KONG
DOLLAR
INDIA
RUPEE
*IRELAND
POUND
ITALY
LIRA
JAPAN
YEN
MALAYSIA
RINGGIT
MEXICO
PESO
NETHERLANDS
GUILDER
*NEW ZEALAND
DOLLAR
NORWAY
KRONE
PORTUGAL
ESCUDO
SINGAPORE
DOLLAR
SOUTH AFRICA
RAND
SOUTH KOREA
WON
SPAIN
PESETA
SRI LANKA
RUPEE
SWEDEN
KRONA
SWITZERLAND
FRANC
TAIWAN
DOLLAR
THAILAND
BAHT
*UNITED KINGDOM POUND
MEMO:
**UNITED STATES

DOLLAR

Apr. 3
0.7327
9.670
28.280
1.3990
8.4460
5.4400
1.3269
4.3230
4.8190
1.3740
224.94
7.7323
31.470
1.6150
1727.50

86.25

2.5253
6.8200
1.5389
0.6548
6.1705
145,42
1.4080
3.5880
774.40
126.870
49.370
7.3635
1.1242
25.940
24.620
1.6160

82.04

(CURRENCY UNITS PER DOLLAR)
Apr. 4
Apr. 5
Apr. 6
0.7327
9.742
28.470
1.3943
8.4457
5.4825
1.3182
4.3155
4.8500
1.3841
226.40
7.7325
31.410
1.6040
1722.25
86.36
2.5230
6.6200
1.5503
0.6550
6.2055
146.56
1.4087
3.5915
772.90
127.050
49.500
7.3865
1.1370
25.940
24.630
1.6015

82.41

0.7393
9.729
28.400
1.3923
8.4456
5.4510
1.3233
4.2950
4.8340
1.3805
225.65
7.7320
31.445
1.6100
1717.00
86.25
2.5000
6.4600
1.5461
0.6570
6.1860
146.10
1.4068
3.5955
773.90
126.370
49.600
7.3900
1.1322
25.940
24.640
1.6065

82.21

0.7402
9.684
28.300
1.3998
8.4452
5.4135
1.3321
4.2770
4.7910
1.3760
224.78
7.7325
31.430
1.6158
1711.50
85.47
2.4925
6.4700
1.5406
0.6580
6.1780
145.49
1.4057
3.5900
774.10
125.410
49.350
7.3800
1.1280
25.900
24.600
1.6058

81.92

Apr. 7
0.7410
9.741
28.440
1.3918
8.4451
5.4445
1.3289
4.2810
4.8085
1.3840
225.60
7.7325
31.410
1.6130
1705.50
84.32
2.4940
6.3200
1.5497
0.6630
6.2085
146.06
1.4040
3.5920
775.00
124.480
49.300
7.3620
1.1350
25.680
24.600
1.6015

81.94

*VALUE IS U.S. DOLLARS
° F W E I G H T E D AVERAGE EXCHANGE VALUE OF U.S. DOLLAR AGAINST CURRENCIES OF OTHER G-10
COUNTRIES. MARCH 1973 = 100. WEIGHTS ARE 1972-76 GLOBAL TRADE OF EACH OF THE 10 COUNTRIES.
SERIES REVISED AS OF AUGUST 1978. FOR DESCRIPTION AND BACK DATA, SEE "INDEX OF THE
WEIGHTED-AVERAGE EXCHANGE VALUE OF THE U,S. DOLLAR: REVISION" ON PAGE 700 OF THE AUGUST
1978 FEDERAL RESERVE BULLETIN.
THIS RELEASE IS AVAILABLE ONLINE THROUGH THE FACILITIES OF THE DEPARTMENT OF COMMERCE'S
ECONOMIC BULLETIN BOARD. FOR INFORMATION, CALL (202) 482-1986.
FOR INFORMATION ABOUT YOUR SUBSCRIPTION TO THIS RELEASE OR ABOUT RECEIVING IT IN DOCUMENT
FORM, PLEASE CALL PUBLICATIONS SERVICES AT THE FEDERAL RESERVE BOARD AT (202) 452-3244.