Full text of H.13 Selected Interest and Exchange Rates, Weekly Series of Charts : April 17, 1995

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Selected Interest 6f
Exchange Rates
Weekly Series of Charts

April 17,1995

DIVISION OF
INTERNATIONAL FINANCE

Prepared by the
FINANCIAL MARKETS
SECTION

BOARD OF GOVERNORS
FEDERAL RESERVE SYSTEM
Washington, DC. 20551




Table of Contents

TABLES
1. LATEST FIGURES PLOTTED
2. DAILY CERTIFIED SPOT
EXCHANGE RATES
H.10 RELEASE
CHARTS
1.
2.
3.
4.

SPOT EXCHANGE RATE INDICES
3-MONTH FORWARD EXCHANGE RATES
GOLD PRICE—LONDON
CALL MONEY RATES

5. 3-MONTH INTEREST RATES
6. EURO-DOLLAR DEPOSIT RATES
7. 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 AND WEIGHTED AVERAGE VALUES (THIN LINE)
AVERAGES FOR WEEK ENDING WEDNESDAY
RATIO SCALE
MARCH 1973=100
115

RATIO SCALE
MARCH 1973=100
150

FOREIGN CURRENCY
PRICE OF U.S. DOLLAR

140

BELGIAN FRANC

130
120
110
100

•

'

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«

•

1

1

1

I

1

« I

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1

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1

'

90
340

JAPANESE YEN

300

SWISS FRANC

260
220

•

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180
85

CANADIAN DOLLAR
U.K. POUND

75

65

i

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A*

—

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DUTCH GUILDER

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215

GERMAN MARK

f

55

195
175
155

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135
55

ITALIAN LIRA

FRENCH FRANC

45

35

25

•

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•

i




•

•
1993

•

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» •

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•

•
1995

•

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1993

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1995
15

CHART 2

3-MONTH FORWARD EXCHANGE RATES
PREMIUM (+) OR (-)
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM

PERCENT PER ANNUM

2

2
U.K. POUND

1
CANADIAN DOLLAR

1 1

I

1

1

1I

1

1

1

1

1

1

1

1

1

1
1

1

1

1

1

1

1

1

1

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JAPANESE YEN

. z W v A "
1

1

1

1

1

SWISS FRANC

DUTCH GUILDER

FRENCH FRANC

ITALIAN L RA

'

1

1




l

1

'
1993

» I

1

1

'

l

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1995

I
1992

i

i

1994

CHART 3

PRICE OF GOLD IN LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
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

I
1991




I

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l _ l
1992

I

L

J
1993

I

I

I
1994

I

I

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1995

L

320

CHART 4

CALL MONEY RATES
WEEKLY SERIES
PERCENT PERANNI

ENT PER ANNUM
7

6

SWITZERLAND
U.S. FEDERAL FUNDS

5

4

JAPAN

3

2
10

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8
NETHERLANDS
6
GERMANY
4

2
16

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1

1

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1

1

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1

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FRANCE

14

12
CANADA

10

8
6
UNITED KINGDOM
4

•

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1

1993

» i

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» '
1995

»

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1993

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•

1995

CHART 5

3-MONTH INTEREST RATES
WEEKLY SERIES
PERCENT PER ANNUM
10

PERCENT PER ANNUM
CANADIAN FINANCE PAPER

WEIGHTED AVERAGE
FOREIGN RATE

U.S. CD'S

3

2
12
NETHERLANDS INTERBANK RATE
10
U.K. INTERBANK STERLING

8

6

3

4
7

5

FRENCH INTERBANK RATE

JAPANESE CD RATE

3

5

1
10
GERMAN INTERBANK RATE

8
SWISS INTERBANK

6
4

2




1993

1995

1993

1995

3

CHART 6

EURO-DOLLAR DEPOSIT RATES LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
DENT PER ANNUM

8

3-MONTH

OVERNIGHT
6

4

2

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1

1

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1

8

7-DAY

6-MONTH

6

4

1

2
8

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1

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1

'

6

4

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1993

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1-YEAR

1-MONTH

2

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1995

I

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1

i

»

1

»

CHART 7

SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES
DIFFERENTIAL: RLUS(+), FAVORS BORROWING IN U.S.
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM
7

PERCENT PER ANNUM
7

3-MONTH
EURO-DOLLAR DEPOSITS

OVERNIGHT
EURO-DOLLAR DEPOSIT

3

—

9 0 - D A Y CD'S
DASHED LINE

FEDERAL FUNDS
DASHED LINE

i

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V
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DIFFERENTIAL

DIFFERENTIAL

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1

1
1993

1

1

1

1

1

1

1

1
1995

1

J

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1993

I

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1995

L

CHART 8

INTEREST ARBITRAGE: 3-MONTH FUNDS
DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNL

PE ^CENT PER ANNUM
7

CANADIAN FINANCE
CO. PAPER, COVERED

INTERBANK STERLING

6

COVERED LONDON

5

U.S. COMMERCIAL PAPER „ f V
DASHED

EURO-DOLLAR DEPOSITS
DASHED LINE

4

3

2
1

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DIFFERENTIAL

DIFFERENTIAL
+

0

1

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7

INTERBANK DM

6

COVERED FRANKFURT

SWISS INTERBANK (SF) COVERED

5

EURO-DOLLAR DEPOSITS
4

Z\

EURO-DOLLAR DEPOSITS

DASHED LINE

\

uS

vS

DASHED LINE

3

2
1

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I

DIFFERENTIAL

+

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1

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1993

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1995

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1993

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1995

CHART 9

LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
PERCENT PER ANNU

PE [CENT PER ANNUM

9
UNITED KINGDOM

UNITED STATES
8

7

6

5
10

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FRANCE

CANADA
9

8

7

6
8

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JAPAN

SWITZERLAND
7

6

5

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9

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GERMANY

NETHERLANDS
8

7

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1993

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1993

1995

1

CHART 10

STOCK INDICES
WEEKLY SERIES
RATIO SCALE
1986=100

RATIO SCALE
1986=100

200

220

UNITED KINGDOM

UNITED STATES
200

180

180

160

160

140

1

1

140
250

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120
160

JAPAN

SWITZERLAND

140

120
175

100
150 —

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80
180

CANADA
160

140

120

•

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100
180

NETHERLANDS

FRANCE

160

140

120

110




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1993

1995

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1993

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•
1995

1

100

15-Mar-95 22-Mar-95 29-Mar-95 5-Apr-95
Chart 1.

12-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
Indices, March 1973 base rates

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

3.4868
72.121
20.596
71.682
0.05816
1.18862
63.937
87.237
159.72

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

137 .40
71 .88
92 .81
201 .65
33 .39
311 .22
183 .55
280 .65
64 .60

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

119 .02
59 .43
77 .60
192 .73
25 .75
300 .51
162 .59
50 .48
247 .05
52 .15
82 .35

-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

-1 .85
-1 .21
1 .54
-4 .35
4 .64
1 .49
2 .84
-0 .32

383.73

382 .74

382 .49

390 .29

391 .17

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

6 .10
5 .89
7 .98
7 .58
4 .49
1 .70
4 .40
3 .14
5 .08

100

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

Weighted average exchange value indices, 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 Forward Exchange Rate

Canadian dollar
French franc
German mark
Italian lira
Japanese yen
Netherlands guilder
Swiss franc
U.K. pound
Chart 3.

Gold Price in London, Afterno

U.S. dollars per fine ounce
Chart 4.

119.05
58.96
76.28
194.27
26.85
280.51
163.61
52.21
245.37
52.80
83.60

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

Premium or Discount
-1.87
-2.25
1.26
-4.38
4.22
1.06
2.61
-0.39
Fixing

Call Money Rates

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




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

3-Month Interest Rates

U.S. 90-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.

6.17
8.34
8.33
5.00
2.15
5.05
3.66
6.59
5.71

6. 13
8. 35
8. 25
4 .96
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

6. 12
8. 27
7. 33
4 .60
1. 71
4 .64
3. 26
6. 51
5. 20

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..89
5..95
6..04
6..15
6..31
6,.63

Euro-Dollar Deposit Rates

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

12-Apr-95

Selected Euro-dollar & U.S. Mone^ • Market Rates
5.90
5.94
-0.04

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

5.98
6.06
-0.08

6.09
6.20
-0.11

5..89
6.,10
- 0 .,21

6.18
6.17
0.01

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

6.14
6.13
0.01

6.19
6.16
0.02

6,.15
6..12
0,.03

Euro-dollar deposit
Interbank sterling (London), covered
Differential

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..15
6..19
- 0 ,.04

U.S. commercial paper
Canadian finance paper, covered
Differential

6.17
6.43
-0.26

6,.14
6 .38
-0 .24

6.13
6.33
-0.20

6.17
6.37
-0.20

6 .13
6 .38
-0 .25

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

6.18
6.28
-0.10

6 .10
6 .22
-0 .12

6.14
6.21
-0.07

6.19
6.26
-0.07

6 .15
6 .15
-0 .00

Euro-dollar deposit
Swiss interbank, covered
Differential

6.18
6.30
-0.12

6 .10
6 .28
-0 .18

6.14
6.18
-0.04

6.19
6.28
-0.10

6 .15
6 .12
0 .03

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

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

8 .46
7 .78
7 .09
3 .64
4 .89
7 .21
8 .41
7 .09

Overnight Euro-dollar deposits
U.S. federal funds
Differential
3-month Euro-dollar deposit
U.S. 90-day CD's, secondary market
Differential
Chart 8.

Chart 9 .

Interest Arbitrage, 3-Month Funds

10-year maturity, where available

>nd Yields

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

8.62
8.16
7.36
4.16
5.20
7.47
8.62
7.18

Stock Indices (Wednesday figures)

142 .80
143 .26
142 .07
140 .59
Canada
144 .99
142 .98
140 .83
136 .64
France
109 .00
106 .41
110 .28
112 .21
Germany
96 .72
99 .29
95 .66
100 .00
Japan
146 .02
144 .61
145 .15
145 .20
Netherlands
209 .88
208 .85
210 .10
208 .42
Switzerland
189 .61
186 .66
185 .74
181 .38
United Kingdom
201 .04
199 .84
196 .87
195 .66
United States
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



143 ,
.18
144 ,
.62
110 .58
98 .68
147 .75
210,.90
189 .89
201 .46
to SBF250

. • ' o ? GOva-

FEDERAL RESERVE statistical release
April 17, 1995

H. 10(512)

FOREIGN EXCHANGE RATES
FOR THE WEEK ENDING

APRIL 14, 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
^AUSTRALIA
AUSTRIA
BELGIUM
CANADA
CHINA,P.R.
DENMARK
*EURO COMMUNITY
FINLAND
FRANCE
GERMANY
GREECE
HONG KONG
INDIA
^IRELAND
ITALY
JAPAN
MALAYSIA
MEXICO
NETHERLANDS
*NEW ZEALAND
NORWAY
PORTUGAL
SINGAPORE
SOUTH AFRICA
SOUTH KOREA
SPAIN
SRI LANKA
SWEDEN
SWITZERLAND
TAIWAN
THAILAND
*UNITED KINGDOM
MEMO:
**UNITED STATES

MONETARY
UNIT
DOLLAR
SCHILLING
FRANC
DOLLAR
YUAN
KRONE
ECU
MARKKA
FRANC
D. MARK
DRACHMA
DOLLAR
RUPEE
POUND
LIRA
YEN
RINGGIT
PESO
GUILDER
DOLLAR
KRONE
ESCUDO
DOLLAR
RAND
WON
PESETA
RUPEE
KRONA
FRANC
DOLLAR
BAHT
POUND

DOLLAR

Apr. 10

(CURRENCY UNITS PER DOLLAR)
Apr. 13
Apr. 12
Apr. 11

Apr. 14

0.7410
9.920
28.970
1.3841
8.4452
5.5445
1.3103
4.3395
4.9000
1.4095
228.91
7.7325
31.400
1.6050
1729.25
83.10
2.4860
6.4000
1.5787
0.6645
6.3030
148.26
1.3985
3.6005
772.80
125.570
49.300
7.3510
1.1605
25.170
24.595
1.5940

0.7405
9.867
28.830
1.3796
8.4450
5.5115
1.3139
4.3170
4.8865
1.4020
227.55
7.7330
31.400
1.6150
1724.75
83.80
2.4875
6.3000
1.5703
0.6628
6.2730
147.64
1.4035
3.6030
770.80
125.160
49.370
7.3370
1.1525
25.300
24.620
1.5945

0.7427
9.883
28.870
1.3777
8.4446
5.5145
1.3112
4.3450
4.8930
1.4043
228.00
7.7327
31.390
1.6143
1725.50
84.00
2.4745
6.1800
1.5818
0.6670
6.2940
148.20
1.4005
3.6080
771.80
124.830
49.300
7.3755
1.1562
25.400
24.610
1.5900

0.7397
9.782
28.570
1.3737
8.4442
5.4560
1.3255
4.2950
4.8520
1.3898
225.64
7.7335
31.360
1.6373
1707.00
83.59
2.4675
6.3200
1.5565
0.6728
6.2235
145.98
1.3947
3.6080
772.60
123.330
49.700
7.3190
1.1495
25.350
24.570
1.6068

0.7400
9.793
28.610
1.3690
8.4441
5.4625
1.3242
4.3015
4.8575
1.3913
225.99
7.7340
31.360
1.6300
1706.25
83.35
2.4645
6.3200
1.5584
0.6720
6.2255
146.16
1.3950
3.6080
773.40
123.480
49.300
7.3210
1.1522
25.360
24.560
1.6020

82.68

82.52

82.70

81.96

81.98

KVALUE IS U.S. DOLLARS
K*INDEX OF WEIGHTED 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.