Full text of H.13 Selected Interest and Exchange Rates, Weekly Series of Charts : April 19, 1993

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Selected Interest &
Exchange Rates
Weekly Series of Charts

April 19,1993

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

120

RATIO SCALE
MARCH 1973=100
140

FOREIGN CURRENCY
PRICE OF U.S. DOLLAR

110

130

100

120

90

—| 110

80
70
270

100

BELGIAN FRANC

i

i

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I

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i

i

i

i

i

i

I

i

i

i

•

•

•

i

•

•

•

I

' I ' ' '

•

90
240
220

250

200

230

180

210

JAPANESE YEN

170

160

SWISS FRANC

190

•

i

i

i

i

» i

i

i

i

i

I

i

i

i

'

'

'

I

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I

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I

'

I

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140

100

100
90

90

U.K. POUND

80

80

70

70
CANADIAN DOLLAR

60

60
50
200

•

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1 '

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J_L

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«

50
200

180

190

160

180

140

170

120

GERMAN MARK

DUTCH GUILDER

'




1 •

I

•

•

•

1 •

•

•

I

•

•

'

I

'

I

I

'

r

FRENCH FRANC

ITALIAN

'

I

I

I

I

I

160
I

I

I

CHART 2

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

i

i

i

I

*

PERCENT PER ANNUM
2
U.K. POUND

i

i

I

i

i

i

I

i

i

i

i

CANADIAN DOLLAR

i

i

i

I

i

i

i

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I

i

i

i

I

i

i 'i

I

i

i

i

i

i

I

i

i

I

i

i

i

JAPANESE YEN

i

I

i

i

i

I

i

i

i

SW SS FRANC

i

i

I

i

i

DUTCH GUILDER
V

vxx
—

i

i

i




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i

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'

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'

i

I

i

i

i

ITALIAN LIRA

FRENCH FRANC

1990

i

1992

'
1990

'

I

1992

CHART 3

PRICE OF GOLD IN LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
U.S. DOLLARS PER FINE OUNCE

U.S. DOLLARS PER FINE OUNCE

420

420

12.5 Kg BARS
AFTERNOON FIXING PRICE

400

380

380

360

340

340

1990



1991

1992

1993

CHART4

CALL MONEY RATES
WEEKLY SERIES
PERCENT PER ANNUM
10

PERCENT PER ANNUM
— I 16

FRANCE

U.S. FEDERAL FUNDS

JAPAN

NETHERLANDS
GERMANY

UNITED KINGDOM

CANADA

SWITZERLAND

1990



1992

1990

1992

CHART 5

3-MONTH INTEREST RATES
WEEKLY SERIES
PERCENT PER ANNUM
15

PERCENT PER ANNUM
12

WEIGHTED AVERAGE
FOREIGN RATE

13
CANADIAN FINANCE PAPER

i

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—

i

11

i
10

16

13

10 —
U.K. INTERBANK STERLING

i

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I

NETHERLANDS INTERBANK RATE

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'

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I

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7
14

12
FRENCH INTERBANK RATE
JAPANESE CD RATE

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!

10

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*• i

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1992

i

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i

GERMAN INTERBANK RATE

SWISS INTERBANK

1990

i

'
1990

i

I

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i

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I

'

'
1992

i

8
10

CHART 6

EURO-DOLLAR DEPOSIT RATES LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM
10

PERCENT PER ANNUM
10
3-MONTH

OVERNIGHT

1

1

•

1990




I

1

7-DAY

6-MONTH

1-MONTH

1-YEAR

1

1

i

•

•
1992

1

i

1

»

1

1990

1992

CHART 7

SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES
DIFFERENTIAL: PLUS(+), FAVORS BORROWING IN U.S.
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM
10

PERCENT PER ANNUM
10

OVERNIGHT
EURO-DOLLAR DEPOSITS

3-MONTH
EURO-DOLLAR DEPOSITS

FEDERAL FUNDS
DASHED LINE

90-DAY CD'S
DASHED LINE

4 —

-I

1

1

1

1

1

1

I

I

I

'

l

'

l
—

_

I

DIFFERENTIAL

DIFFERENTIAL

—

v v - w v y / y r

I

I
1990

I




f

'vyw Y v V ^ v

I— i — i — i — i

i

i
1992

HAM/

i

i

i

i

i

1

1— 1
1990

1

L I

1

1

1

I
1992

1

1

i1

1

1

CHART 8

INTEREST ARBITRAGE: 3-MONTH FUNDS
DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM
10

PERCENT PER ANNUM

10

8

—

CANADIAN FINANCE
CO. PAPER, COVERED

INTERBANK STERLING
COVERED LONDON

6 —

4 —

2

U.S. COMMERCIAL PAPER
DASHED LINE

EURO-DOLLAR DEPOSITS
DASHED LINE

—

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Vwr

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DIFFERENTIAL

DIFFERENTIAL

2

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'

I

» '

I

'

'

•

10

10

SWISS INTERBANK (SF) COVERED

INTERBANK DM
COVERED FRANKFURT

6 —

2

EURO-DOLLAR DEPOSITS
DASHED LINE

EURO-DOLLAR DEPOSITS
DASHED L!NE

—

i

•

I

'

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1

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1

1

1

1 '

1

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I

1990



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I

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I

I

I

I

I

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DIFFERENTIAL

DIFFERENTIAL

I

I

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I

'
1992

•

I

•

•

•

I

1 I
1990

1 I

'

'

1992

CHART 9

LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
=tCENT PER ANNUM

PERCENT PER ANN I

10

14
UNITED STATES

UNITED KINGDOM

9
12
8
10
7
8

6
5
12

i

i i

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i i

i

i

i

i

I

i

i

i

I

i

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i

I

i

i i

6

12

CANADA

FRANCE

11

11

10

10

9

9

8

8

7
8

7
8

SWITZERLAND

JAPAN

7

7

6

6

5

5

4
10

4
10

NETHERLANDS

GERMANY

9

9

8

8

7

7

6

i

i

'

1990




I

i

i

i

i

i

i
1992

i

i

'

i

'
1990

1992

6

CHART 10

STOCK INDICES
WEEKLY SERIES
RATIO SCALE
1986=100
200

RATIO SCALE
1986=100
200
UNITED STATES

UNITED KINGDOM

180
160
140

120

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100
250

SWITZERLAND

JAPAN

210

170

170
150
130
130
90
110

90
130

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50
155

FRANCE

GERMANY

120

145

110

135

100

125

90

115

i

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•

•

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i

1

1

1

I

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1

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i

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i

l

i

i

CANADA

1990



1992

1990

I

1

1

1

1992

l

1

1

i

105
130

SERIES
17-Mar -93 24 -Mar-93 31-Mar-93 7-Apr-93
Chart 1.

14-Apr-93

Spot Exchange Rates and I n d i c e s

Noon buying r a t e s (U.S. c e n t s , weekly averages)
Belgian f r a n c
Canadian d o l l a r
French f r a n c
German mark
Italian lira
Japanese yen
Netherlands g u i l d e r
Swiss franc
U.K. pound

2.9182
80. 169
17. 687
60. 112
0.06227
0.85040
53. 486
65. 572
143 .95

2.9644
80. 245
17. 939
61. 085
0.06305
0.86049
54. 359
66. 109
148 .35

2.9845
80. 073
18. 103
61. 506
0.06248
0.85916
54. 727
66. 431
149 .18

3.0210
79. 341
18.:358
62. 254
0.06288
0.87781
55.:366
67.:310
151 .71

3.0467
79. 326
18. 534
62. 703
0.06440
0.88231
55. 796
68. 291
154 .24

114 .99
79 .90
79 .70
169 .10
35 .74
222 .66
153 .55
210 .95
58 .22

116 .81
79 .98
80 .84
171 .84
36 .19
225 .30
156 .05
212 .68
60 .00

117 .60
79 .81
81 .58
173 .02
35 .87
224 .96
157 .11
213 .72
60 .34

119 .04
79 .08
82 .73
175 .13
36 .09
229 .84
158 .94
216 .55
61 .36

120 .05
79 .06
83 .52
176 .39
36 .97
231 .02
160 .18
219 .70
62 .38

111 .55
73 .62
74 .64
179 .60
30 .78
232 .13
152 .25
52 .81
205 .64
53 .66
92 .81

111 .89
72 .16
75 .03
180 .19
30 .68
235 .31
152 .62
53 .18
206..44
54..11
91..72

111 .97
71 .55
75 .18
180 .08
31 .22
234 .63
152 .63
53 .49
207 .88
54 .64
90 .82

-2 .05
-8 .08
-4 .83
- 7 .97
-0 .08
-4 .41
-1..92
-2 .80

-1 .99
- 7 .21
-4 .75
-8 .24
-0 .11
-4 .34
-1 .90
-2 .67

-2..28
-6..56
-4,.73
-8..44
-0..02
-4..37
-1..97
-2..67

-1,.99
-5 .79
-4,.70
-7..95
-0..03
-4..37
-1..89
-2..65

327..93

331 .48

333 .84

338..17

337..48

3 .04
2..99
4..75
10,.91
8..44
3..11
7..90
5.,35
6..18

2,.93
2..85
4,.88
10..93
8..49
3..16
7..90
5..40
6..10

3 .18
3 .09
4..55
10..83
7..06
3..38
7..96
5..50
5..45

3..11
3..03
4..60
10. 39
8..14
3..04
7.,91
5..38
5.,45

2..93
2..95
4..56
9..70
8..13
3..11
7..85
5..00
5..54

I n d i c e s , March 1973 base r a t e s = 100
Belgian franc
Canadian d o l l a r
French f r a n c
German mark
Italian lira
Japanese yen
Netherlands g u i l d e r
Swiss f r a n c
U.K. pound

Weighted average exchange v a l u e i n d i c e s , Mar. 1973=100
Belgian f r a n c
Canadian d o l l a r
French f r a n c
German mark
Italian lira
Japanese yen
Netherlands g u i l d e r
Swedish krona
Swiss franc
U.K. pound
U.S. d o l l a r
Chart 2.

-2 .14
-8 .02
-4 .63
- 7 .82
0 .05
-4,.30
-1..87
-2,.65

Gold P r i c e i n London, A f t e r n o o n F i x i n g

U.S. d o l l a r s per f i n e ounce
Chart 4.

111 .06
73 .99
74 .10
178 .67
31 .17
233 .20
151 .57
52 .94
205 .15
53 .48
93 .11

3-Month Forward Exchange Rates, Premium or Discount

Canadian d o l l a r
French f r a n c
German mark
Italian lira
Japanese yen
Netherlands g u i l d e r
Swiss franc
U.K. pound
Chart 3.

110 .57
74 .83
73 .88
177 .70
31 .14
233 .12
150 .81
53 .11
205 .85
52 .40
94 .48

C a l l Money Rates

U.S. f e d e r a l funds
Overnight E u r o - d o l l a r d e p o s i t s
Canada
France
Germany
Japan
Netherlands
Switzerland
United Kingdom




SERIES
Chart 5.

17-Mar-93 24-Mar-93 31-Mar-93 7-Apr-93

3-Month I n t e r e s t Rates

U.S. 90-day CD's, secondary market
Canadian f i n a n c e paper
French interbank r a t e
German interbank r a t e
Japanese CD r a t e
Netherlands interbank r a t e
Swiss interbank r a t e
U.K. interbank s t e r l i n g
Weighted average f o r e i g n i n t e r e s t r a t e
(G-10 C o u n t r i e s )
Chart 6.

3.12
5.58
10.95
7.73
3.24
7.36
4.96
5.85
6.89

3.10
5.46
10.93
7.75
3.26
7.40
4.99
5.95
6.94

3.12
5.37
10.30
7.83
3.29
7.45
5.01
5.90
6.94

3.12
5,63
9.66
7.87
3.22
7.51
5.04
5.81
6.89

3.09
5.41
8.81
7.83
3.22
7.43
4.90
5.81
6.72

2.99
3.03
3.06
3.13
3.23
3.48

2.85
2.99
3.06
3.13
3.20
3.46

3.09
3.06
3.06
3.11
3.23
3.50

3.03
3.00
3.06
3.11
3.25
3.50

2.95
3.03
3.06
3.13
3.23
3.48

E u r o - D o l l a r Deposit Rates

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

14-Apr-93

Selected E u r o - d o l l a r & U.S. Money Market Rates
2.99
3.04
-0.05

2.85
2.93
-0.08

3.09
3.18
-0.09

3.03
3.11
-0.08

2.95
2.93
0.02

3.13
3.12
0.00

3.13
3.10
0.03

3.11
3.12
-0.01

3.11
3.12
-0.00

3.13
3.09
0.04

Euro-dollar deposit
Interbank s t e r l i n g (London), covered
Differential

3.13
3.16
-0.04

3.13
3.11
0.01

3.11
3.19
-0.08

3.11
3.10
0.01

3.13
3.12
0.00

U.S. commercial paper
Canadian f i n a n c e paper, covered
Differential

3.19
3.41
-0.23

3.16
3.39
-0.22

3.18
3.35
-0.17

3.18
3.32
-0.14

3.16
3.40
-0.24

E u r o - d o l l a r deposit
Interbank DM ( F r a n k f u r t ) , covered
Differential

3.13
3.01
0.11

3.13
2.83
0.30

3.11
2.99
0.12

3.11
3.05
0.06

3.13
3.04
0.08

E u r o - d o l l a r deposit
Swiss i n t e r b a n k , covered
Differential

3.13
3.07
0.05

3.13
3.04
0.08

3.11
3.09
0.03

3.11
3.05
0.07

3.13
2.98
0.15

7.59
7.33
6.54
4.16
4.63
6.47
7.56
6.06

7.45
7.35
6.65
4.22
4.63
6.63
7.66
5.94

7.48
7.28
6.65
4.35
4.66
6.67
7.75
6.04

7.61
7.15
6.70
4.42
4.66
6.71
7.68
6.10

7.45
7.01
6.57
4.49
4.62
6.54
7.67
5.93

118.00
145.23
99.84
103.27
119.22
166.21
174.49
181.82

120.09
144.15
97.67
105.52
117.97
166.91
173.43
181.51

119.53
150.20
99.27
109.84
119.76
170.44
172.66
183.36

120.01
148.65
97.70
117.90
119.49
169.09
169.33
179.61

120.96
149.02
98.59
120.44
120.25
167.60
170.62
182.11

Overnight E u r o - d o l l a r d e p o s i t s
U.S. f e d e r a l funds
Differential
3-month E u r o - d o l l a r d e p o s i t
U.S. 90-day CD's, secondary market
Differential
Chart 8.

Chart 9.

I n t e r e s t A r b i t r a g e , 3-Month Funds

Long Term Government B e l l w e t h e r Bond Y i e l d s
10-year m a t u r i t y , where a v a i l a b l e

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

Stock I n d i c e s (Wednesday f i g u r e s )

Canada
France
Germany
Japan
Netherlands
Switzerland
United Kingdom
United States

Indices ( i n o r d e r , rebased t o 1986=100) are Toronto Composite, CAC General, FAZ A k t i e n ,
Tokyo SE ( T o p i x ) , CBS A l l - G e n e r a l , Swiss Bank Index, F i n a n c i a l Times O r d i n a r y , NYSE Composite




FEDERAL RESERVE statistical release
H.10(512)

April 19, 1993

FOREIGN EXCHANGE RATES
FOR THE WEEK ENDING

APRIL 16, 1993

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
BELGIUM
CANADA
CHINA,P.R.
DENMARK
*EURO COMMUNITY
FINLAND
FRANCE
GERMANY
GREECE
HONG KONG
INDIA
*1RELAND
ITALY
JAPAN
MALAYSIA
NETHERLANDS
*NEW ZEALAND
NORWAY
PORTUGAL
SINGAPORE
SOUTH AFRICA
SOUTH KOREA
SPAIN
SRI LANKA
SWEDEN
SWITZERLAND
TAIWAN
THAILAND
•UNITED KINGDOM

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

MEMO:
neUNITED STATES

DOLLAR

Apr. 12

(CURRENCY UNITS PER DOLLAR)
Apr. 15
Apr. 13
Apr. 14

Apr. 16

0.7115
11.288
32.800
1.2607
5.7333
6.1220
1.2200
5.7350
5.3950
1.5930
218.27
7.7330
N. A.
1.5330
1559.00
112.75
2.5780
1.7908
0.5400
6.7875
148.68
1.6245
NC
798.90
115.10
47.820
7.5375
1.4630
26.030
N.A.
1.5478

0.7175
11.115
32.500
1.2613
5.7163
6.0660
1.2320
5.6270
5.3435
1.5795
216.30
7.7315
31.600
1.5463
1523.75
113.40
2.5788
1.7755
0.5415
6.7195
146.94
1.6227
3.1600
799.00
114.05
N.A.
7.4415
1.4455
26.065
N.A.
1.5585

0.7213
11.199
32.730
1.2634
5.7163
6.0995
1.2235
5.5555
5.3755
1.5910
217.50
7.7312
31.700
1.5323
1540.00
113.90
2.5820
1.7875
0.5423
6.0000
147.81
1.6275
3.1665
798.80
114.65
N.A.
7.4055
1.4575
26.100
25.240
1.5520

0.7209
11.261
33.000
1.2610
5.7163
6.1600
1.2155
5.5855
5.4300
1.6050
217.90
7.7310
31.600
1.5222
1545.75
113.40
2.5825
1.8022
0.5407
6.7995
148.63
1.6277
3.1795
792.90
115.80
47.630
7.4660
1.4655
26.060
25.280
1.5430

0.7164
11.356
33.230
1.2590
5.7165
6.1950
1.2065
*
5.6000
5.4540
1.6145
220.30
7.7309
31.600
1.5105
1544.00
112.63
2.5820
1.8145
0.5382
6.8450
149.80
1.6263
3.1955
799.00
116.79
47.830
7.5275
1.4770
26.040
25.285
1.5255

90.72

90.06

90.57

91.03

91.36

*VALUE IS U.S. DOLLARS
**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.