The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
(516/517) 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 • ' ' I ' ' ' I I ' ' I I ' « • 1 1 1 I 1 « I ' ' ' 1 I 1 ' 90 340 JAPANESE YEN 300 SWISS FRANC 260 220 • i i I « i i I « i » I i i i I I I I I I I I I I I i I I I 180 85 CANADIAN DOLLAR U.K. POUND 75 65 i i i i A* — • i i i i i i i DUTCH GUILDER i i i » I I I I I • i ' • » I • • ' 215 GERMAN MARK f 55 195 175 155 I I I I I I I I I I I I I I I I I I I « ' I I I I I I I I I 135 55 ITALIAN LIRA FRENCH FRANC 45 35 25 • ' • i • • 1993 • ' • » • i • • 1995 • I I I I I I 1993 I I I I I I I I I 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 i I i i i I i i i 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 i i i 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 I I l _ l 1992 I L J 1993 I I I 1994 I I I I 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 i • i i ' ' • 1 i ' i I i i I ' I I 1 I ' ' I ' » I I I I I I I I I I I i » I i i 8 NETHERLANDS 6 GERMANY 4 2 16 I ' » I I 1 1 I 1 1 • I 1 ' I • I I I I I I I I FRANCE 14 12 CANADA 10 8 6 UNITED KINGDOM 4 • » • I » 1 1993 » i « » » I » ' 1995 » • i i i » i 1993 » i • 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 I I I I I I I I I I I I I I I • » i i i 1 1 1 i 1 8 7-DAY 6-MONTH 6 4 1 2 8 » • I » • • i 1 » » I i 1 1 ' 6 4 I I I I I » I 1993 I ' I ' ' ' 1-YEAR 1-MONTH 2 ' » I I I I I 1995 I I i 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 i i I I I I I I I I I—I—I—L J I I I I I \kAtA in V V V w v i i 1 I I I I I I—I—L I I I I DIFFERENTIAL DIFFERENTIAL i I i 1 1 1993 1 1 1 1 1 1 1 1 1995 1 J I I I I I 1993 I I I I 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 i i i l i i i l i i i l i i i I I I 1 I I I 1 I I » I 1 ' I I I I I I I I I I I I I • ' DIFFERENTIAL DIFFERENTIAL + 0 1 I I I I I I I I I I I I I I I I I I I I I I I 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 i • I I 1 I • i • • • I • • • I I DIFFERENTIAL I I I I I I I I DIFFERENTIAL + 0 1 >v 1 1 • I 1 1 1993 1 I ' 1 « I « I ' 1995 • • • I • • 1993 • I • • • I ' 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 » » • l ' • 1 1 I 1 * 1 ' 1 1 i i i i i i i v i i i i i i i » I 1 ' 1 ' ' ' I ' ' 1 FRANCE CANADA 9 8 7 6 8 • I I I • I I > I • » I I 1 • 1 ' I JAPAN SWITZERLAND 7 6 5 » I 4 9 I I I • ' I • • • I ' • i « 1 i • » ' I ' 1 I GERMANY NETHERLANDS 8 7 6 5 I I I I I I 1993 I I ' I I I I I 1995 I ' » • I 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 i I i 1 1 I 1 1 1 I 1 i 1 » i i l i • » l « • » l » • • 120 160 JAPAN SWITZERLAND 140 120 175 100 150 — • • i l i 1 i l i » 1 l • ' 1 I I I I 1 I ' I • • ' I • • • 80 180 CANADA 160 140 120 • 1 1 I 1 i ' I i i ' l » i i 100 180 NETHERLANDS FRANCE 160 140 120 110 I 1993 1995 I ' 1993 I I I I I I I • 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.