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(516/517)
Selected Interest &
Exchange Rates
Weekly Series of Charts
April 20,1987
DIVISION OF
INTERNATIONAL FINANCE
Prepared by the
FINANCIAL MARKETS
SECTION
BOARD OF GOVERNORS
FEDERAL, RESERVE SYSTEM
Washington, D C. 20551
Table of Contents
TABLES
SUBSCRIPTION RATES:
1. LATEST FIGURES PLOTTED
Weekly $15.00 per year or $.40 each in the United
States, its possessions, Canada, and Mexico; 10 or
more of the same issue to one address, $13.50 per
year or $.35 each. Elsewhere, $20.00 per year or $.50
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 ILLS. Currency.
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
CHART 1
SPOT EXCHANGE INDICES
DOLLAR PRICES OF FOREIGN CURRENCIES AND WEIGHTED AVERAGE VALUES (THIN LINE)
AVERAGES FOR WEEK ENDING WEDNESDAY
RATIO SCALE
MARCH 1 9 7 3 = 1 0 0
200
180 _
RATIO SCALE
MARCH 1 9 7 3 = 1 0 0
—
FOREIGN CURRENCY
PRICE OF U.S. DOLLAR
jp\
—
160
—
140
-
—
120 -
—
100 -
-
80
200
180
I
I
I
I
I
I
-z^x
—
I
vvAA
—
-
30
-
25
200
I
I
I
I
|
I
Cr
A.
i
i
n
-
-
-
-
-
J\r
-
i
i
11111111111
FRENCH FRANC
BELGIAN FRANC
-
-
70
\/
I
I
I
I
I
120
-
100
v
-
7
V
-
60
-
50
n i l , I,, |, ,i,|ii|,,||,
40
\^A
M
i
i
M
i
SWISS FRANC
r^r
1985
11111111111
1987
— 200
-
j\j
-
\,l
-
I
/
t\S
^^\^_zX_
-
I
240
—
—
=r
80
70
~
^
-
—
—
-
iiliiliihi
120
90
140
, I | I , | M | M| | | , | | ,
|
—
~
—
90
- A
i
160
IIIIIIIIIIIIIIIIIIII
e
\A
|
—
DUTCH GUILDER
U.K. POUND
50 -
/^U/
f
-
1111111111, ,il 11 h i h i
90
80 -
50
35
M | I I | M |I ,I || I I | I I20
| I I
r^/
-
I
60
—
180
CANADIAN DOLLAR
80
|
40
—
-
-
80
100
|
JAPANESE YEN
, %
40
|
I
—
GERMAN MARK
100
M
I
—
—
140
60
/V
-
III, I lull, Ill,,|,||,|
50
45
ITALIAN LIRA
-
—
160 -
120
—
-
I
I
I
I
I
I
1985
I
-
180
-
160
-
140
-
120
I I I I I I I I I I i Il l , , | | , | | |
1987
100
CHART 2
3-MONTH FORWARD EXCHANGE RATES
PREMIUM (+) OR (-)
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM
PERCENT PER ANNUM
4
8
JAPANESE YEN
CANADIAN DOLLAR
-
I
I
I
I I I I I I I I I II I I
I
I
I
I
M l , , ! , , ! , ,
4
12
—
U. K. POUND
SWISS FRANC
J
I
I
~
I
r^\
I
I
GERIMAN MARK
I
I
I
-
I
0
8
DUTCH GUILDER
-
I
I
I
I
I
I
n i l i hili i iiliili.l,.
FRENCH FRANC
1985
-
I
I
I
I
I
I
iiiiiiiiiM
ITALIAN LIRA
1987
1985
1987
C H A R T 3"
PRICE OF GOLD IN LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
U.S. DOLLARS PER FINE OUNCE
U.S. DOLLARS PER FINE OUNCE
480
480
460
440
-
-
460
440
12.5 Kg BARS
AFTERNOON FIXING PRICE
420
400
380
-
420
-
400
—
380
360
-
360
340
340
320
320
300 -
300
280 -
280
260
260
1984
1985
1986
1987
CHART 4
CALL MONEY RATES
WEEKLY SERIES
PERCENT PER Af
ENT PER ANNUM
16
FRANCE
12
U. S. FEDERAL FUNDS
::
-
8
4
Vv
JAPAN
0
I
I
I
I
I
I
16
CANADA
12
8
GERMANY
4
0
16
UNITED KINGDOM
SWITZERLAND
12
8
4
NETHERLANDS
0
1985
1987
1985
1987
CHART 5
3-MONTH INTEREST RATES
WEEKLY SERIES
NT PER ANNUM
PERCENT PER AN
16
14
U.S. CD'S
12
-
CANADIAN FINANCE CO.
PAPER
14
-
10
12
10
8
WEIGHTED AVERAGE
FOREIGN RATE
6
\
-
-
8
4
6
16
14
FRENCH INTERBANK RATE
U.K. INTERBANK STERLING
14
-
12
12
10
10
8
I I I I I I I I6I I I
8
—
10
10
NETHERLANDS INTERBANK RATE
8
-
—
GERMAN INTERBANK RATE
6
6
V-x
4
2
I
I
I
I
I
4
-
2
I
8
10
8
8
SWISS INTERBANK RATE
JAPANESE GENSAKI RATE
6
6
4
4
2
2
0
1985
1987
1985
1987
CHART 6
EURO-DOLLAR DEPOSIT RATES
LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM
PERCENT PER ANNUM
3-MONTH
OVERNIGHT
4
14
6-MONTH
7-DAY
10
8
6
4
14
14
1-YEAR
1-MONTH
12
10
8
6
4
1985
1987
1985
1987
t
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
PERCENT PER ANNUM
16
16
14
14
12
FEDERAL FUNDS
90-DAY CD' S
DASHED LINE
DASHED LINE
12
10
10
8
—
6
-
OVERNIGHT
3-MONTH
E U R O - D O L L A R DEPOSITS
E U R O - D O L L A R DEPOSITS
J
i _ L
I
I
11111111111
11111111111111111111111
4
2
DIFFERENTIAL
DIFFERENTIAL
-
I I I I I I I I I I I f I I I I I I I I I I I
1985
1 PERCENT ON DIFFERENTIAL S C A L E = 2 PERCENT ON RATE S C A L E
1987
11111111111
1985
11111111111
1987
CHART 8
INTEREST ARBITRAGE: 3-MONTH FUNDS
DIFFERENTIAL: P L U S H , INDICATES FAVOR DOLLAR ASSETS
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER Ah
ENT PER ANNUM
18
14
CANADIAN FINANCE
CO. PAPER, COVERED
INTERBANK STERLING
COVERED LONDON
10
EURO-DOLLAR DEPOSITS
6
DASHED LINE
U. S. COMMERCIAL PAPER
DASHED LINE
I III Mill
2
2
DIFFERENTIAL
DIFFERENTIAL
+
0
I II
2
18
14
INTERBANK DM
COVERED FRANKFURT
SWISS INTERBANK (SF) COVERED
EURO-DOLLAR DEPOSITS
EURO-DOLLAR DEPOSITS
10
6
DASHED LINE
DASHED LINE
II
2
2
DIFFERENTIAL
DIFFERENTIAL
+
0
2
1985
1987
PERCENT ON DIFFERENTIAL S C A L E = 2 PERCENT ON RATE S C A L E
1985
1987
CHART 9
LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
NT PER ANNUM
PERCENT PER M
16
WM
16
CANADA
14
14
12
12
10
10
8
-
I
6
I
I
6
14
12
8
10
UNITED KINGDOM
-
JAPAN
-
8
10
6
8
4
6
2
8
10
GERMANY
6
SWITZERLAND
8
4
6
2
4
17
17
U. S. CORPORATE
15
MONTHLY
FRANCE
15
Aaa BONDS
13
\Z
11
11
NETHERLANDS
MONTHLY
9
9
7
7
5
5
1985
1987
1985
1987
CHART 10
INDUSTRIAL STOCK INDICES
WEEKLY SERIES
RATIO
RATIO
1969=
450
400
350
300
~~
UNITED KINGDOM
UNITED STATES
-
/
250
200
-
150
uli ihill i
100
500
450
400
350
__
SWITZERLAND
-
JAPAN
300
250
200
I
150
I
I
450
400
350
300
GERMANY
FRANCE
250
200
150
100
450
400
350
NETHERLANDS
CANADA
300
250
200
150
100
1985
1987
1985
1987
LAST VALUE PLOTTED
DATE
VALUE
SERIES NAME
*^^HAHT
1. SPOT EXCHANGE HATES AND INDICES
WEEKLY AVERAGES, NOON BOXING BATES
(U.S. CENTS)
GERMAN MARK
JAPANESE YEN
DUTCH GUILDER
U.K. POUND
CANADIAN DOLLAR
FRENCH FRANC
SWISS FRANC
BELGIAN FRANC
ITALIAN LIRA
SWEDISH KRONA
APRIL
APRIL
APRIL
APRIL
APRIL
APRIL
APRIL
APRIL
APRIL
APRIL
15
15
15
15
15
15
15
15
15
15
55.24
0. 70153
4 8. 98
162. 64
76.32
16.61
66. 80
2. 66472
0.07748
15.82
APRIL
APRIL
APRIL
APRIL
APRIL
APRIL
APRIL
APRIL
APRIL
15
15
15
15
15
15
15
15
15
155. 40
183.68
140.61
65.78
76.06
74.83
214.91
105.00
44.01
15
15
15
15
15
15
15
15
15
15
15
96.94
164. 56
192. 23
140.26
61.31
72.53
70.44
214.24
102.60
40.26
67.50
15
15
15
15
15
15
15
15
-0.51
-2.95
2.87
— 1. 31
3. 16
1.41
2. 84
- 2 . 43
INDICES, MARCH 1973 BASE RATES = 100
GERMAN MARK
JAPANESE YEN
DUTCH GUILDER
O.K. POUND
CANADIAN DOLLAR
FRENCH FRANC
SWISS F R A N C
BELGIAN FRANC
ITALIAN LIRA
WEIGHTED AVERAGE EXCHANGE VALUE INDICES, BAR 1973 = 100
(G-10 COUNTRIES PLUS SWITZERLAND)
U.S. DOLLAR
GERMAN MARK
JAPANESE YEN
DUTCH GUILDER
O.K. POUND
CANADIAN DOLLAR
FRENCH FRANC
SWISS FRANC
BELGIAN FRANC
ITALIAN LIRA
SWEDISH KRONA
APRIL
APRIL
APRIL
APRIL
APRIL
APRIL
APRIL
APRIL
APRIL
APRIL
APRIL
CHART 2. 3-MONTH FORWARD EXCHANGE RATES, PREMIUM OR DISCOUNT
CANADIAN DOLLAR
U.K. POUND
GERMAN MARK
FRENCH FRANC
SWISS FRANC
DUTCH GUILDER
JAPANESE YEN
ITALIAN LIRA
APRIL
APRIL
APRIL
APRIL
APRIL
APRIL
APRIL
APRIL
SEFILES NAME
LAST 7ALOE PLOTTED
DATE
VALUE
CHART 3. GOLD PRICE IN LONDON, AFTERNOON FIXING
0. S. DOLLARS PER FINE OUNCE
APRIL 15
435. QO
4. CALL MONEY RATES
APRIL
APRIL
APRIL
APRIL
APRIL
APRIL
APRIL
APRIL
APRIL
15
15
15
15
15
15
15
15
15
6.44
6.31
9.65
7. 40
3.66
3.46
7. 98
5.35
1.00
APRIL
APRIL
APRIL
APRIL
APRIL
APRIL
APRIL
APRIL
APRIL
15
15
15
15
15
15
15
15
15
6. 56
3.82
3. 90
7. 19
9.84
3.59
7.85
5.33
6.05
APRIL
APRIL
APRIL
APRIL
APRIL
APRIL
15
15
15
15
15
15
6.31
6.43
6.58
6.73
6. 85
7. 15
OVERNIGHT EURO-DOLLAR DEPOSITS
U.S. FEDERAL FUNDS
DIFFERENTIAL
APRIL 15
APRIL 15
APRIL 15
6.31
6.44
-0.13
3-MONTH EURO-DOLLAR DEPOSIT SATE
U.S. 90-DAY CD'S, SECONDARY MARKET
DIFFERENTIAL
APRIL 15
APRIL 15
APRIL 15
6. 73
6.56
0.17
U.S. FEDERAL FUNDS
OVERNIGHT EURO-DOLLAR DEPOSITS
U. K.
CANADA
GERMANY
JAPAN
FRANCE
NETHERLANDS
SWITZERLAND
CHART 5. 3-MONTH INTEREST RATES
U.S. 90-DAY CD'S, SECONDARY MARKET
GERMAN INTERBANK LOAN
JAPANESE GENSAKI RATE
CANADIAN FINANCE PAPER
INTERBANK STERLING
SWISS INTERBANK LOAN
FRENCH INTERBANK RATE
NETHERLANDS INTERBANK RATE
WEIGHTED AVERAGE FOREIGN INTEREST R A T E
(G-10 COUNTRIES PLUS SWITZERLAND)
CHART 6. EURO-DOLLAR DEPOSIT RATES: LONDON
OVERNIGHT
7-DAY
1-MONTH
3-MONTH
6-MONTH
1-YEAR
CHART 7. SELECTED EURO-DOLLAR AND U.S. HONEI MARKET RATES
SESIES NAME
LAST VALUE PLOTTED
DATE
VALUE
CHART 8. INTEREST ARBITRAGE, 3-MONTH PONDS
EURO-DOLLAR DEPOSIT
INTERBANK STERLING (LONDON), COVERED
DIFFERENTIAL
APfilL 15
APRIL 15
APRIL 15
6.73
6.82
-0.09
U.S. COMMERCIAL PAPER
CANADIAN FINANCE PAPER, COVERED
DIFFERENTIAL
APRIL 15
APRIL 15
APfilL 15
6. 47
6.67
-0. 20
EURO-DOLLAR DEPOSIT
INTERBANK DM (FRANKFURT), COVERED
DIFFERENTIAL
APRIL 15
APRIL 15
APRIL 15
6.73
6.72
0.00
EURO-DOLLAR DEPOSIT
SWISS INTERBANK, COVERED
DIFFERENTIAL
APRIL 15
APfilL 15
APfilL 15
6. 73
6.78
-0.05
APRIL 10
APRIL 10
APRIL 3
APRIL
3
APRIL 3
APfilL 10
FEB.
APRIL 3
7. 71
5.39
3. 62
4. 12
9. 09
9. 46
6. 15
9. 06
MARCH
8. 36
CHART 9. LONG TERM GOVERMENT BOND YIELDS
UNITED STATES
GERMANY
JAPAN (MONTHLY)
SWITZERLAND
CANADA
FRANCE
NETHERLANDS (MONTHLY)
UNITED KINGDOM
U.S. CORPORATE
AAA BONDS
CHART 10.
STOCK INDICES
DNITED STATES
UNITED KINGDOM
CANADA
GERMANY
SWITZERLAND
NETHERLANDS
FRANCE
JAPAN
APRIL
APRIL
APRIL
APRIL
APRIL
APRIL
APRIL
APRIL
8
8
8
8
8
8
8
8
32 Q. 41
342.66
382.99
261.48
200.13
323.08
452.51
520.22
'oOlGOVpV-.
FEDERAL RESERVE statistical release
H.10(512)
APRIL 20, 1987
FOREIGN EXCHANGE RATES
FOR THE WEEK ENDING
APRIL 17, 1987
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
APR . 13
•AUSTRALIA
AUSTRIA
BELGIUM
BRAZIL
CANADA
CHINA,P.R.
DENMARK
FINLAND
FRANCE
GERMANY
GREECE
HONG KONG
INDIA
•IRELAND
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
CRUZADO
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
72 .29
12 .745
37 .460
NA
1 .3028
3 .7314
6 .8270
4 .4250
6 .0190
1 .8110
133 .150
7 .8035
12 .8600
147 .77
1289 .50
142 .65
2 4825
2 0435
58. 040
6. 7890
140. 100
2. 1375
49.80
845.80
126. 200
28.895
6.3210
1.4995
34. 120
25.700
162.35
MEMO:
SUNITED STATES
DOLLAR
96.92
1 CURRENCY UNITS PER DOLLAR)
APR . 14
APR . 15
APR . 16
72 .24
12 .670
37 .360
NA
1 .3195
3 .7314
6 .8075
4 .4050
5 .9970
1 .8030
132 .800
7 .8045
12 .8000
148 .25
1285 .50
141, 13
2,4720
2. 0328
58. 020
6. 7605
139. 750
2. 1345
50. 03
844. 60
126. 720
28.895
6.2945
1.4860
34.070
25.660
163.30
96.55
72 .58
12 .700
37 .520
NA
1 .3247
3 .7314
6 .8160
4 .4080
6 .0095
1 .8065
133 .200
7 .8010
12 .8300
147 .85
1288 .50
141 .75
2 4770
2 0375
58. 280
6. 7700
139. 900
2.1375
50. 00
843.40
126. 900
28. 925
6.3030
1.4890
34.020
25.640
163.30
96.79
71 .53
12 .740
37 .540
NA
1 .3185
3 .7314
6 .8400
4 .4160
6 .0260
1 .8115
133 .500
7 .8030
12 .8600
147 .45
1292 .00
143 00
2 4820
2 .0427
57.800
6. 7800
140. 000
2. 1355
49. 70
843.50
126. 970
28.950
6.3150
1.4930
33. 960
25.690
163. 10
97.03
APR . 17
71 .20
12 .760
37 .650
NA
1 .3200
3 .7314
6 .8460
4 .4350
6 .0370
1 .8155
133 .700
7 .8030
12 .8400
147 ,35
1295..00
143..20
2,4845
2 0470
57.800
6. 7950
140. 700
2.1370
49. 75
843. 60
127.450
NA{
6.3240
1.4965
33.890
NA
163.00
97.21
C0WTRX.ES. MARCH 1973 = 100. HEIGHTS 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.
•VALUE IS U.S. CENTS
@FedFRASER