Full text of H.13 Selected Interest and Exchange Rates, Weekly Series of Charts : April 2, 1990

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Selected Interest &
Exchange Rates
Weekly Series of Charts

April 2,1990

r

Prepared by the
FINANCIAL MARKETS
SECTION




DIVISION OF

INTERNATIONAL FINANCE
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 $24.00 per year or $.60 each in the United
States, its possessions, Canada, and Mexico; 10 or
more of the same issue to one address. $22.50 per
year or $.55 each. Elsewhere. $30.00 per year or S 70
each. Address requests to Publications Services.
Division of Administrative 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
M A R C H 1973=100

RATIO SCALE
M A R C H 1973=100

140

140

FOREIGN CURRENCY
PRICE OF U.S. DOLLAR

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BELGIAN FRANC

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70

280
SWISS FRANC

— I 260
240

JAPANESE YEN

—

220
200
180

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160

—

90

'

CANADIAN DOLLAR

—

U.K. POUND

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—

80

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1988

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GERMAN MARK
DUTCH GUILDER

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ITALIAN LIRA
FRENCH FRANC

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1988

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1990

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CHART 2

3-MONTH FORWARD EXCHANGE RATES
PREMIUM (+) OR (-)
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER A N N U M
4 f

PERCENT PER A N N U M
4

CANADIAN DOLLAR

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U.K. POUND

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GERMAN MARK

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JAPANESE YEN

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SWISS FRANC

DUTCH GUILDER

v/\

—

—

^ 7 "

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FRENCH FRANC

12

-LJL




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ITALIAN LIRA

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1988

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1990

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1988

1990

12

CHART 3

PRICE OF GOLD IN LONDON
A V E R A G E S FOR WEEK ENDING W E D N E S D A Y

u.s.c )LLARS PER FINE O U N C E
520

U,S. DOLLARS PER FINE OL

520

500

500

12.5 Kg BARS
A F T E R N O O N FIXING PRICE

480

480

460

460

440

440

420

420

400

400

380

380

360

360

340

340

320

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1

1

1

1

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320

CHART 4

CALL MONEY RATES
WEEKLY SERIES
PERCENT PER A N N U M

PERCENT PER A N N U M
16

16

12

12

FRANCE

U.S. FEDERAL FUNDS

JAPAN

0
16

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CANADA
GERMANY

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20
UNITED KINGDOM




SWITZERLAND
16

12

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NETHERLANDS

1988

1990

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1988

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1990

CHARTS

3-MONTH INTEREST RATES
WEEKLY SERIES
PERCENT PER AN

:ENT PER A N N U M

12

12
FRENCH INTERBANK RATE

10

10

U.S. CD'S

8

8

6

6
WEIGHTED A V E R A G E
FOREIGN RATE

4

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2
16

16

14

14

U.K. INTERBANK STERLING

CANADIAN FINANCE CO.
PAPER

12

12

10

10

8

8
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6

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10

8

6
16

—

G E R M A N INTERBANK RATE

SWISS INTERBANK RATE

12

6

8

4

4

2

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10

0
10

NETHERLANDS INTERBANK RATE

8

8

JAPANESE GENSAKI RATE

6

6

4

4

2

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1990

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1988

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1990

2

CHART 6

EURO-DOLLAR DEPOSIT RATES LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
CENT PER A N N U M

14

OVERNIGHT

12

3-MONTH

10

8

6
i

4
14

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7-DAY

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II

II

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6-MONTH

10

8

6

4
14

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1-MONTH

12

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1-YEAR

10

8

6

4

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1988

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1988

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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 A N N U M

P E R C E N T PER A N N U M

14

14

12

12

10

OVERNIGHT

10

3-MONTH

EURO-DOLLAR DEPOSITS

EURO-DOLLAR DEPOSITS i

FEDERAL FUNDS

90-DAY CD'S

D A S H E D LINE

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D A S H E D LINE

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J — I — i — I — i

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DIFFERENTIAL
—

DIFFERENTIAL

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1988

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J—I—I—I—I

1988

1990

CHART 8

INTEREST ARBITRAGE: 3-MONTH FUNDS
DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS
AVERAGES FOR WEEK ENDING WEDNESDAY
[CENT PER A N N U M

P E R C E N T PER ANNt

16

16

12

INTERBANK STERLING

12

CANADIAN FINANCE
CO. PAPER, COVERED

—

COVERED LONDON

8

8

4

I

0

EURO-DOLLAR DEPOSITS

U.S. COMMERCIAL PAPER

D A S H E D LINE

D A S H E D LINE

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DIFFERENTIAL

DIFFERENTIAL
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16

16

12

INTERBANK DM

12

SWISS INTERBANK (SF) COVERED

C O V E R E D FRANKFURT

8

8

4

EURO-DOLLAR DEPOSITS

EURO-DOLLAR DEPOSITS

D A S H E D LINE

D A S H E D LINE

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2

DIFFERENTIAL

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1988

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1988

1990

2

CHART 9

LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES

14

RCENT PER A N N U M

PERCENT PER ANNl

UNITED STATES

CANADA

12

10

8

6

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14
UNITED KINGDOM

FRANCE

12

10

8

6
10

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SWITZERLAND

JAPAN

8

6

4

2
10

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NETHERLANDS

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GERMANY

MONTHLY

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C H A R T 10

STOCK INDICES
WEEKLY SERIES
RATIO SC

SCALE

200
175

1986

00

— NETHERLANDS

_ UNITED STATES

150
125

100
75

50
400
350

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. GERMANY

.JAPAN

300
250

200
150

100

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175 — SWITZERLAND
150
125

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75

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175 — CANADA
150
125

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1990

SERIES
28-Feb-90 7-Mar-90
Chart 1.

14-Mar-90 21-Mar-90 28-Mar-90

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

2.8515
83.660
17.543
59.375
0.08033
0.67653
52.708
67.466
169.98

2.8152
84.078
17.315
58.501
0.07932
0.66601
51.931
66.440
164.86

2.8152
84.888
17.308
58.495
0.07923
0.65848
51.946
65.787
161.60

2.8358
84.773
17.444
58.924
0.07980
0.65236
52.314
65.982
161.13

2.8225
85.037
17.368
58.484
0.07946
0.63975
51.967
65.842
161.53

112 .36
83 .38
79 .05
167 .03
46 .11
177 .14
151 .31
217 .05
68 .75

110 .93
83 .80
78 .03
164 .57
45 .53
174 .38
149 .08
213 .75
66 .68

110 .93
84 .61
77 .99
164 .55
45 .48
172 .41
149 .13
211 .64
65 .36

111 .75
84 .49
78 .60
165 .76
45 .80
170 .81
150 .18
212 .27
65 .17

111 .22
84 .75
78 .26
164 .52
45 .61
167 .51
149 .19
211 .82
65 .33

106 .22
79 .41
71 .95
171 .57
40 .26
174 .65
145 .84
67 .40
206 .10
59 .39
94 .23

106 .79
79 .11
72 .40
172 .61
40 .48
172 .40
146 .60
67 .63
206 .26
59 .06
93 .96

106 .76
79 .75
72 .40
171 .98
40 .49
169 .51
146 .25
67 .74
206 .75
59 .51
94 .49

-4.80
-2.34
-0.03
-4.32
-0.44
-0.51
-0.75
-6.61

-4 .62
-2 .21
0 .09
-4 .15
1 .01
-0 .39
-0 .61
-6 .55

-4 .71
-2 .16
0 .14
-4 .05
0 .81
-0 .33
-0 .55
-6 .53

-4 .81
-1 .95
0 .19
-4 .01
0 .97
-0 .18
-0 .65
-6 .50

412.01

404.08

399 .45

398 .78

379,.15

8.27
8.19
12.90
10.15
7.66
6.52
8.52
8.38
14.83

8.28
8.13
13.40
10.18
7.81
6.53
8.51
8.38
14.86

8 .27
8 .16
13 .05
10 .23
7 .84
6 .54
8 .28
8 .38
14 .75

8 .27
8 .16
12 .78
10 .11
7 .77
6 .80
8 .07
8 .08
14 .81

8.,26
8.,15
12.,88
10. 13
7.,35
6. 67
7. 92
8. 28
14. 73

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

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.

-4.73
-2.42
-0.13
-4.59
1.02
-0.62
-0.82
-6.49

Gold Price in London, Afternoon Fixing

U.S. dollars per fine ounce
Chart 4.

105.90
78.35
71.75
171.00
40.19
176.32
145.35
67.39
207.59
60.52
93.88

3-Month Forward Exchange Rates, Premium or Discount

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

106.07
76.99
71.89
171.73
40.25
177.19
145.91
67.35
208.46
61.83
92.55

Call Money Rates

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




28-Feb-90 7-Mar-90
Chart 5.

3-Month Interest Rates

U.S. 90-day CD's, secondary market
Canadian finance paper
French interbank rate
German interbank rate
Japanese gensaki rate
Netherlands interbank rate
Swiss interbank rate
U.K. interbank sterling
Weighted average foreign interest rate
(G-10 Countries)
Chart 6.

8.24
13.28
10.76
8.30
6.24
8.91
9.08
15.06
10.14

8 .27
13 .36
10 .70
8 .54
6 .29
8 .88
9 .00
15 .19
10 .19

8 .38
13 .33
10 .63
8 .45
6 .30
8 .79
8 .88
15 .23
10 .15

8 .40
13 .32
10 .64
8 .39
6 .31
8 .73
8 .80
15 .24
10 .13

8 .36
13 .35
10 .39
8 .35
6 .38
8 .52
8 .83
15 .30
10 .07

8.19
8.19
8.21
8.25
8.31
8.58

8 .13
8 .19
8 .25
8 .30
8 .41
8 .64

8 .16
8 .20
8 .30
8 .39
8 .54
8 .81

8 .16
8 .19
8 .31
8 .40
8 .59
8 .88

8 .15
8 .34
8 .31
8 .38
8 .56
8 .63

Euro-Dollar Deposit Rates

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

14-Mar-90 21-Mar-90 28-Mai—90

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

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

8.19
8.27
-0.08

8 .13
8 .28
-0 .15

8 .16
8 .27
-0 .11

8 .16
8 .27
-0 .11

8 .15
8 .26
-0 .11

8.25
8.24
0.01

8 .30
8 .27
0 .03

8 .39
8 .38
0 .01

8 .40
8 .40
0 .00

8 .38
8 .36
0 .02

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

8.25
8.32
-0.07

8 .30
8 .33
-0 .03

8 .39
8 .43
-0 .04

8 .40
8 .47
-0 .06

8 .38
8 .55
-0 .17

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

8.16
8.40
-0.25

8 .20
8 .40
-0 .21

8 .27
8 .55
-0 .28

8 .32
8 .45
-0 .13

8 .31
8 .38
-0 .08

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

8.25
8.17
0.08

8 .30
8 .51
-0 .21

8 .39
8 .55
-0 .16

8 .40
8 .53
-0 .13

8 .38
8 .55
-0 .17

Euro-dollar deposit
Swiss interbank, covered
Differential

8.25
8.23
0.02

8 .30
8 .23
0 .07

8 .39
8 .25
0 .14

8 .40
8 .24
0 .16

8 .38
8 .16
0 .22

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

Chart 9.

Interest Arbitrage, 3-Month Funds

Long Term Government Bond Yields

'

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

10.64
10.93
8.96
6.89
6.34
10.42
8.49

10 .70
10 .72
9 .06
7 .06
6 .50
10 .81
8 .59

10 .93
10 .88
9 .02
7 .27
6 .39
11 .03
8 .65

ND
10 .74
8 .93
7 .30
6 .45
11 .09
8 .59

ND
ND
8 .81
ND
6 .47
11 .24
8 .52

122.86
137.04
113.28
194.00
101.82
132.81
138.21
134.58

124 .26
139 .06
115 .32
190 .27
103 .12
134 .08
136 .31
136 .57

124 .46
142 .52
118 .22
183 .04
105 .56
133 .78
136 .44
136 .50

124 .50
142 .60
121 .80
171 .89
106 .10
133 .59
137 .43
137 .34

122 .55
143 .24
121 .53
174 .43
107 .08
129 .98
139 .11
138 .04

Stock Indices (Wednesday figures)

Canada
France
Germany
Japan
Netherlands
Switzerland
United Kingdom
United States

Indices (in order, rebased to 1986=100) are Toronto Composite, CAC General, FAZ Aktien,
Tokyo SE (Topix), CBS M l - G e n e r a l , Swiss Bank Index, Financial Times Ordinary, NYSE Composite



Q? GO V

FEDERAL RESERVE statistical release
H.10(512)

March 30, 1990

FOREIGN EXCHANGE RATES
FOR THE WEEK ENDING

MARCH 30, 1990

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
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
MEMO:
**UNITED STATES

MONETARY
UNIT

Mar. 26

DOLLAR
SCHILLING
FRANC
DOLLAR
YUAN
KRONE
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

74.690
12.065
35.500
1.1759
4.7339
6.5395
4.0470
5.7690
1.7115
164.35
7.8140
17.220
155.20
1261.00
156.50
2.7280
1.9256
58.050
6.6190
151.28
1.8835
2.6600
702.20
109.52
40.018
6.1785
1.5265
26.405
25.990
161.80

DOLLAR

94.59

(CURRENCY UNITS PER DOLLAR)
Mar. 27
Mar. 28
Mar. 29
74.520
12.060
35.420
1.1760
4.7339
6.5260
4.0400
5.7580
1.7116
164.37
7.8150
17.210
156.25
1257.00
157.40
2.7270
1.9272
58.080
6.6120
150.90
1.8840
2.6625
703.80
109.33
40.018
6.1700
1.5180
26.400
26.030
162.61

94.52

74.710
12.030
35.360
1.1762
4.7339
6.5225
4.0325
5.7500
1.7108
164.30
7.8170
17.180
156.40
1257.00
158.75
2.7290
1.9252
57.670
6.6050
150.60
1.8875
2.6550
704.10
109.23
40.018
6.1720
1.5160
26.408
26.060
162.75

94.58

75.230
11.960
35.150
1.1743
4.7339
6.4875
4.0175
5.7170
1.6983
163.94
7.8140
17.170
157.50
1251.50
156.75
2.7280
1.9130
57.830
6.5850
150.10
1.8865
2.6530
703.10
108.83
40.018
6.1425
1.4980
N.A.
26.020
163.40

93.96

Mar. 30
75.480
11.875
34.920
1.1705
4.7339
6.4545
3.9995
5.6850
1.6883
163.10
7.8095
17.220
157.52
1244.00
157.82
2.7280
1.9027
57.900
6.5455
148.95
1.8855
2.6425
703.70
108.20
40.018
6.1140
1.4975
26.414
26.000
164.80

93.59

*VALUE IS U.S. CENTS

WEIGHTED-AVERAGE EXCHANGE VALUE OF THE U.S. DOLLAR: REVISION" ON PAGE 700 OF THE AUGUST
1978 FEDERAL RESERVE BULLETIN.