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(516/517) Selected Interest & Exchange Rates W eekly Series o f Charts April 10, 2000 DIVISION OF INTERNATIONAL FINANCE Prepared by the BOARD OF GOVERNORS FINANCIAL MARKETS FEDERAL RESERVE SYSTEM SECTION W ashington, D .C . 20551 Table o f Contents TABLES 1. LATEST FIGURES PLOTTED 2. DAILY CERTIFIED SPOT EXCHANGE RATES CHARTS 1. NOMINAL CURRENCY EXCHANGE VALUES 2. 3-MONTH FORWARD EXCHANGE RATES 3. PRICE OF GOLD IN LONDON 4. OVERNIGHT FUNDING RATES AND OFFICIAL INTEREST RATES 5. 3-MONTH INTEREST RATES 6. LONG-TERM GOVERNMENT BOND YIELDS 7. STOCK INDEXES 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 o f Support Services and make payment remittance payable to the Board of Governors of the Federal Reserve System in a form collectible at Par in U .S. currency. Chart 1 Nominal Currency Exchange Values Dollar prices of foreign currencies ana weighted average values of U.S. dollar (Averages for week ending Wednesday, ratio scale, March 1973 = 100) 200 Foreign current price of U.S. dollar - (Major currencies index) Restated German mark and euro 180 160 140 120 290 Canadian dollar Japanese yen 260 230 200 170 300 U.K. pound Swiss franc 260 220 180 90 Australian dollar Swedish krona 70 50 30 Chart 2 3-Month Forward Exchange Rates Premium (+) or (-) (Averages for week ending Wednesday, percent per annum) 1997 1998 1999 2000 Chart 3 Price of Gold in London (Averages for week ending Wednesday) U.S. dollars per fine u.s. dollars per fine ounce 420 420 12.5 Kg Bars Afternoon fixing price 400 400 380 380 360 360 340 340 320 320 - j 300 300 1 1 280 280 260 260 240 ________ I____________ I_____________I________ 1995 1996 1997 1998 1999 2000 240 Chart 4 Overnight Funding Rates and Official Interest Rates (Averages for week ending Wednesday, percent per annum) 6 Germany Euro Area United States Marginal lending rate Lombard rate 5 Federal funds 4 Call money 3 Repo rate Discount rate eoma Discount rate 2 Overnight > * deposit ra te /^ 1 0.8 Canada 0.6 Discount rate Bank rate 0.4 0.2 Call money Call money 0.0 Lower bound - 6 Switzerland United Kingdom 0.2 5 Repo rate1 Lombard rate 4 3 Call money Discount rate 2 Call money 1 1997 1998 1999 Money-market dealing rate prior to March 1997. 0 Chart 5 3-Month Interest Rates (Averages for week ending Wednesday, percent per annum) 7 German/euro-area interbank 5 U.S. CD 3 1 4 Canadian finance paper Japanese CD 2 0 -2 6 U.K. interbank sterling Swiss interbank 4 2 0 Australian bank bill Swedish treasury bill 9 7 5 3 1 Chart 6 Long-Term Government Bond Yields (Averages for week ending Wednesday, percent per annum) 8 United States Germany 6 4 Weighted average foreign rate 2 0 8 Canada 6 4 2 0 United Kingdom 8 France 6 4 2 0 8 Switzerland 6 4 2 0 Chart 7 Stock Indexes (Averages for week ending Wednesday, ratio scale, December 30,1994 = 100) 8-Mar-00 Chart 1. 15-Mar-00 22-Mar-00 29-Mar-00 5-Apr-00 Nominal Currency Exchange Values Noon buying rates (U.S. cents, weekly averages) Australian dollar Canadian dollar Japanese yen Restated German mark and euro Swedish krona Swiss franc U.K. pound 60.6080 68.751 0.93286 95.95 11.3478 59.698 157.87 61.4420 68.427 0.94616 96.66 11.4811 60.031 157.69 60.7900 67.993 0.94003 96.85 11.5305 60.109 157.14 60.9680 68.422 0.93755 96.40 11.6001 60.537 158.67 60.6900 68.755 0.95536 95.93 11.5583 60.497 159.38 42.90 68.52 244.25 138.01 50.25 192.05 63.85 43.49 68.20 247.74 139.03 50.84 193.13 63.78 43.02 67.77 246.13 139.30 51.06 193.38 63.56 43.15 68.19 245.48 138.65 51.37 194.76 64.18 42.95 68.53 250.15 137.97 51.18 194.63 64.46 0.41 0.83 2.42 6.16 3.71 0.06 0.46 0.84 2.49 6.22 3.82 0.13 0.37 0.87 2.48 6.25 3.49 0.16 0.31 0.88 2.47 6.25 3.52 0.11 289.86 285.99 282.83 277.63 Indexes, March 1973 base rates = 100 Australian dollar Canadian dollar Japanese yen Restated German mark and euro Swedish krona Swiss franc U.K. pound Chart 2. 3-Month Forward Exchange Rates, Premium or Discount Australian dollar Canadian dollar Euro Japanese yen Swiss franc U.K. pound Chart 3. Gold Price in London, Afternoon Fixing U.S. dollars per fine ounce Chart 4. 0.39 0.87 2.49 6.14 3.83 -0.03 289.63 Overnight Funding Rates and Official Interest Rates United States Federal funds Discount rate Canada Bank rate Call money Lower bound Euro area Marginal lending rate Eonia Repo rate Overnight deposit rate Japan Call money Discount rate Switzerland Lombard rate Call money Discount rate United Kingdom Call money Repo rate 5.73 5.25 5.79 5.25 5.81 5.32 6.01 5.50 6.12 5.50 5.25 4.96 4.75 5.25 4.98 4.75 5.50 5.08 5.00 5.50 5.23 5.00 5.50 5.23 5.00 4.25 3.31 3.25 2.25 4.25 3.51 3.25 2.25 4.45 3.51 3.45 2.45 4.50 3.65 3.50 2.50 4.50 3.65 3.50 2.50 0.02 0.50 0.02 0.50 0.02 0.50 0.02 0.50 0.02 0.50 3.25 0.75 0.50 3.88 1.32 0.50 3.38 0.92 0.50 4.63 2.08 0.50 4.63 2.28 0.50 6.05 6.00 5.15 6.00 5.99 6.00 5.26 6.00 5.50 6.00 8-Mar-00 Chart 5. 15-Mar-00 22-Mar-OO 29 -Mar-00 5--Apr-00 3-Month Interest Rates 6.17 U.S. 90-day CD's, secondary market 6.06 6.11 6.22 Australian bank bill 5.83 5.82 5.86 5.95 Canadian finance paper 5.34 5.41 5.45 5.47 Euro-area interbank 3.65 3.76 3.78 3.79 0.06 0.05 0.07 0.07 Japanese CD 4.17 4.17 4.21 Swedish treasury bill 4.10 2.46 Swiss interbank 2.30 2.43 2.76 6.07 U.K. interbank sterling 6.08 6.06 6.05 3.44 3.46 Weighted average foreign interest rate 3.38 3.48 (Canada, euro area, Japan, United Kingdom, Switzerland, Australia, and Sweden) Chart 6. Long Term Government Bellwether Bond Yields 10-year maturity, where available 6.13 6.09 5.96 5.98 Canada 5.37 5.58 5.46 5.39 France 5.46 5.34 5.25 5.27 Germany 5.62 5.73 5.53 5.55 Italy 1.77 1.81 1.84 1.87 Japan 3.87 3.86 3.94 4.04 Switzerland 5.20 5.31 5.36 5.28 United Kingdom 6.34 6.18 6.17 6.40 United States 5.11 5.03 5.16 5.06 Weighted average foreign interest rate (Canada, euro area, Japan, United Kingdom, Switzerland, Australia, and Sweden) Chart 7. 6.23 6.05 5.48 3.83 0.06 4.10 2.75 6.11 3.50 5.92 5.33 5.20 5.49 1.79 4.13 5.23 5.98 5.00 Stock Indexes (Wednesday figures) Canada France Germany Euro area* Italy Japan Switzerland** United Kingdom United States 220.27 327.08 317.34 462.81 337.74 106.55 278.47 150.10 235.61 220.56 317.54 301.68 451.43 326.03 102.97 273.88 150.30 241.10 234.28 320.25 313.43 447.76 322.67 107.38 291.71 158.90 256.33 230.26 331.00 313.37 453.01 323.98 111.14 294.03 158.47 258.77 218.97 305.34 291.20 432.34 300.70 108.72 293.09 155.09 259.24 **December 29, 1994) are Toronto Composit Indices (in order, rebased to December 30, 1994, ■ SBF250, FAZ Aktien, *Dow Jones EURO stock index, Banca Italiana General, Tokyo SE (Topix), Swiss Performance Index, Financial Times Ordinary, NYSE Composite
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