Full text of H.13 Selected Interest and Exchange Rates, Weekly Series of Charts : April 20, 1992

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Selected Interest &
Exchange Rates
Weekly Series of Charts

April 20,1992
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 $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

140

130 I—
1 20 I—

RATIO SCALE
MARCH 1973=100

140
130
120

FOREIGN CURRENCY
PRICE OF U.S. DOLLAR

110

110

100
90

100
90

BELGIAN FRANC

—

80

70
280
260

240

80

I

I

I

F

I

I

I

I

I

I

I

I

I

I

I

I

I

I

I

I

I

1 I

'

I

' 1_J_

70
280
260

SWISS FRANC
i—

220

240

JAPANESE YEN

220

200

200

180

180

160

160

140

140
•

120
100
90

•

I

I

'

I

I

I

I

'

'

I

I

'

•

I

I

I

__

U.K. POUND

1 '

I

I

I

I

I

'

I

i

i

i

CANADIAN DOLLAR

120
100
90

80

80

70

70

60

60

50

1

1

1

I

1

1

1

1

I

1

'

I

» I

I

I

I

I

I

I

I

'

I

I

I

'

I

200

I

I

I

180 —

DUTCH GUILDER

180

160

160

140

140

GERMAN MARK

120
100
120

50
200

120

I

I

'

I

I

I

I

I

I

I

I

I

I

I

'

'

'

'

I

I

I

I

I

I

I

I

I

I J_L

100
60

110

100 —
90

55
50
45

ITALIAN LIRA

FRENCH FRANC

80

40

70

35

60

30

50

'

i

i




I

i

i •
1990

l

i

'

i

l

i

»
1992

» '
I

'

I

i

» '
1990

I

i

i

r

I

i

i i
1992

25

CHART2

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

PERCENT PER ANNUM

4

CANADIAN DOLLAR

1 1 1 I

12
8

1 1 1 I I

4

U.K. POUND

i

i

1 i

i

i

I

GERMAN MARK

I

I

I

I

I

I

I

I

I

I

I

I _L_L

12
8

JAPANESE YEN
—

x

.

—L-l

.

^

1

1 1 1 1 1 1 1 1 1 1 1 1 1

1 1 1 1 1 1 1 I

SWISS FRANC

_

l
FRENCH FRANC




,

I 1 1 1 1 1

, 1 1 1 1 1

DUTCH GUILDER

x

1990

v

l

v v

I

„

1 i

" v a

i

i

I

I

1 1 1 1 1 1 |
1990

I

1 I

ITALIAN LIRA

1992

1 1 1 1 1
1992

12

CHARTS

PRICE OF GOLD IN LONDON
A V E R A G E S FOR W E E K ENDING W E D N E S D A Y
U.S. DOLLARS PER FINE OUNCE
460

U.S. DOLLARS PER FINE OUNCE
460

440
440
12.5 Kg BARS
AFTERNOON FIXING PRICE

420
420

400
400

380 ——
380

360

—
360

340
340

320




1990

1991

1992

320

CHART4

CALL MONEY RATES
WEEKLY SERIES
CENT PER ANNUM

PERCENT PER AN

16

12

FRANCE

U.S. FEDERAL FUNDS

8

4

0

JAPAN

1

i

1

I

1

«

1

l

1

1

1

I

•

i

'

i

I

i

i

'

I

'

'

'

I

i

i

i

'

l

t

i

i

I

i

i

l

i

i

i

l

i

i i
1992

16

12

CANADA

GERMANY

8

4

0

'

'

•

I

'

'

'

I

•

•

'

I

•

•

i

i

i

I

i

16

UNITED KINGDOM

12

SWITZERLAND

8
NETHERLANDS
4

0

•

i

'

I




'

•
1990

'

I

•

•

i

l

i

i
1992

•

i

'

I

i

i i
1990

i

CHARTS

3-MONTH INTEREST RATES
WEEKLY SERIES
PERCENT PER ANNUM
PERCENT PER ANNUM

12

12

WEIGHTED AVERAGE
FOREIGN RATE

SWISS INTERBANK RATE

U.S. CD'S

CANADIAN FINANCE CO
PAPER

U.K. INTERBANK STERLING

GERMAN INTERBANK RATE

FRENCH INTERBANK RATE

10
10

JAPANESE CD RATE

NETHERLANDS INTERBANK RATE

"

i

I




i

n
1990

I

| |
1992

1

1

1

1

1

1

1

1990

1

1

1

i

I

i

'

'

1992

CHART6

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

PERCENT PER ANNUM

12

12

OVERNIGHT

I

'

I

I

'

10

•

I

I

3-MONTH

'

'

'

1

i

7-DAY

i

2
12

i

i

I

i

10

i

'

1

I




'

'
1990

i

'

'

I

'

•

'

l

'

•

•

6-MONTH

I

'

i

i

i

i

i

1-MONTH

'

i

10

I

i

1-YEAR

'

'

'

'

•

M
1992

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

14

PERCENT PER ANNUM

14

12
OVERNIGHT

12

EURO-DOLLAR DEPOSITS

3-MONTH
EURO-DOLLAR DEPOSITS

10

10

FEDERAL FUNDS

90-DAY CD'S

DASHED LINE

J

1

1

1

DASHED LINE

1

I

I

I

•

•

I

•

|

J

1

1

1

1

1

1

I

»

I

I

I

|

J

DIFFERENTIAL
__

DIFFERENTIAL

- — -1\

^
•

J—i—i—I—i—i—i




1990

-

f

I

i

i

i

i

i

.
1992

.

J

1

1

1
1990

1

1

1

I

I

I

I
1992

L

CHART 8

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

PERCENT PER ANN!

16

12
INTERBANK STERLING

CANADIAN FINANCE
CO. PAPER, COVERED

COVERED LONDON

8

EURO-DOLLAR DEPOSITS

4

0

U.S. COMMERCIAL PAPER

DASHED LINE

i

i

i

I

i

i

DASHED LINE

'

I

i

i

i

I

i

i

i

I

J_L

I

I

I

I

'

I

'

I

I

I

I

I

i

•

i

l

i

i

i

2
DIFFERENTIAL

DIFFERENTIAL

+

0

2
16

V v'.'wwvu^ '

I

I

I

I

I

I

I

I

I

I

I

I

•

I

i

i

I

i

i

i

12
INTERBANK DM

SWISS INTERBANK (SF) COVERED

COVERED FRANKFURT

8

EURO-DOLLAR DEPOSITS

4

0

—

DASHED LINE

i

i

'

I

i

'

EURO-DOLLAR DEPOSITS
DASHED LINE

'

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

I

I

2
DIFFERENTIAL

DIFFERENTIAL

+

0

2

I

I

I

1 1 I




1990

I

I

1 1 I

I

I

1 I
1992

I

I

I

I

I

I
1990

I

1992

CHART 9

LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
PERCENT PER ANNUM

14

PERCENT PER ANNUM

t

UNITED STATES

14

CANADA

12

12

10

10

i

i

I

i

i

i

,

l

, , ,

i

i

14

UNITED KINGDOM

i

I

i

» i

l

'

'

•

i

i

i

6

14

FRANCE

12

12

10

10

» '

'

1

I

1

1

'

I

'

» f

I

10

I

I

'

SWITZERLAND

'

•

'

l

•

'

I

I

I

» '

I

'

'

'

I

'

'

'

JAPAN

•

» '

•

•

•

I

I

12

I

I

'

NETHERLANDS

•

>

1

1

1

'

1

I

1

'

1

I

|

GERMANY

|

6
10

2
12

10
10

i

'

1

I




1

» 1 i
1990

» •

•

i

i

_L_L

1992

'

'

'

1

1

1

1

1990

1

1

1

« 1 '

I I
1992

CHART 10

STOCK INDICES
WEEKLY SERIES
iSCALE
100

RATIO S

198

UNITED STATES

•

'

'

I

t

— NETHERLANDS

i

i

!

1

i

t

I

i

i

i

— JAPAN

1

1

1

I

1

1

1

'

'

'

1

I

1

1

1

I

— GERMANY

300
250
200

150

100

i

» i

l

1

i

i

I

i

»

1

i

'

I

I

•

'

•

'

•

•

200

175 - SWITZERLAND

— FRANCE

150
125
100
75

50

» '

1

I

1

1

» I

1

1

» I

'

I

'

»

1

1

I

'

1

1

I

1

1

1

I

I

'

1

1

1

I

I

I

I

•

200

175
150

.CANADA

— UNITED KINGDOM

125
100
75

50

» '

'

I




'

• •
1990

I

'

« •

I

•

•
1992

•

I

'

1

I

'

1

1990

I I
1992

I

SERIES
18-Mai—92 2 5 - M a r - 9 2 l - A p r - 9 2
Chart

1.

Noon b u y i n g r a t e s

(U.S.

cents,

Indices,

M a r c h 1973 b a s e r a t e s

-

Weighted average exchange v a l u e i n d i c e s .
Belgian franc
Canadian d o l l a r
French f r a n c
German m a r k
Italian lira
Japanese yen
Netherlands g u i l d e r
Swedish k r o n a
Swiss f r a n c
U.K. pound
U.S. d o l l a r

U.S.

3 - M o n t h F o r w a r d Exchange R a t e s ,

Chart 4.

per

Call

fine

2.9431
84.020
17.868
60.583
0.08034
0.74902
53.796
66.418
173.15

2.9855
84.071
18.133
61.415
0.08134
0.75112
54.538
66.983
174.41

2.9578
84.416
17.966
60.827
0.08082
0.75235
54.025
66.084
176.36

115.24
83.28
79.87
169.33
46.01
196.19
153.47
213.90
69.55

114.88
83.48
79.71

115.97
83.74
80.52
170.42
46.11
196.12
154.44
213.68
70.03

117.64
83.79
81.71
172.77
46.69
196.67
156.57
215.49
70.54

116.55
84.14
80.96
171.11
46.39
196.99
155.09

Mar.

-6 .16
London,

ounce

168.80

45.78
195.94
152.97
212.43
69.44




deposits

71.33

1973=100
106.82
75.82
71.32
170.74
39.28
194.98
145.20
66.94
200.69
61.46
90.76

107 . 2 3
75 . 6 0
71 .66
171 . 5 0
39 . 3 4
193 . 9 2
145 . 7 8
67 . 1 9
200 . 7 0
6 1 .. 6 4
9 0 . . 09

-3.00
-5.82
-5.44
-7.69
-0.57
-5.35
-4.33
-6.32

-2.
-5.
-5.
-7.
-0.

91
79
42
64
62
~D . 3 1
- 4 . 54
- 6 . 37

107 .96
75 . 0 0
72 . 2 1
172 .68
39 . 5 3
192 .80
1 4 6 . .68
67 . 56
200. 81
6 1 . 59
8 9 . 18

107 . 2 5
75 . 5 9
71 . 7 1
171 . 3 3
39 .39
193 .83
145. ,69
6 7 . 42
1 9 8 . 66
6 2 . 57
8 9 . 54

- 2 .86
- 5 .72
- 5 .47
- 7 .75
- 0 50
- 5 . 29
- 4 . 51
- 6 . 47

- 2 .82
- 5 .86
- 5 .49
- 7 . .80
- 0 . 52
- 5 . 29
- 4 . 38
- 6 . 16

Afternoon Fixing
343.43

338.99

341.98

339.32

339.82

4.04
3.98
6.73
9.89
9.56
5.57
9.42
7.88
10.48

3.94
3.94

4.09
4.14
6.90
9.86
9.61
5.39
9.44
7.88
9.98

3.98
4.05
6 .85
9.76
9.64
4.68
9.17
7.88
9.33

3.65
3.83
6.95
9.88
9.59
4.67
9.17

Money R a t e s

U.S. f e d e r a l f u n d s
Overnight Euro-dollar
Canada
France
Germany
Japan
Netherlands
Switzerland
U n i t e d Kingdom

212.60

Premium o r D i s c o u n t
-3.20
-5.76
-5.35
-7.62
-0.53
-5.28
-4.14

Gold P r i c e i n

dollars

2.9154
83.761
17.688
60.006
0.07975
0.74833
53.284
66.030
171.68

106.96
75.47
71.34
170.98
39.41
194.85
145.42
67.07
201.73
61.44
90.54

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

2.9244
83.552
17.725
60.192
0.08016
0.74928
53.459
66.489
171.95
100

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

2.

15-Api—92

weekly averages)

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

Chart

8-Apr-92

Spot Exchange Rates and I n d i c e s

6.88

9.93
9.61
5.59
9.35
7.88

10.20

6.88

10.30

SERIES
Chart

5.

1 8 - M a r - 9 2 25 - M a r - 9 2 1 - A p i — 92

3-Month I n t e r e s t

6.

Euro-Dollar

Deposit

7.

Selected

Euro-dollar

Overnight Euro-dollar
U.S. f e d e r a l f u n d s
Differential

& U.S.

8.

Interest

deposits

Arbitrage,

Euro-dollar deposit
Interbank s t e r l i n g (London),
Differential
U.S. c o m m e r c i a l p a p e r
Canadian f i n a n c e p a p e r ,
Differential

covered

covered

Euro-dollar deposit
Swiss i n t e r b a n k , covered
Differential
Chart

9.

10.

3.98
4.06
4.25
4.31
4.51
5.08

3
4
4
4
4
5

.94
.23
.24
.29
.49
.05

4 .21
7 .47
10 . 0 2
9 .65
4 .88
9 .55
8 .58
10 . 8 3
8 .97

4 .14
7 .36
9 .93
9 .65
4 .74
9 .49
8 .60
10 . 9 3
8 .93

3
7
9
9
4
9
8
10
8

.95
.16
.89
.60
.69
.34
.20
.38
.79

4
4
4
4
4
4

.14
.16
.14
.23
.41
.94

4
4
4
4
4
4

.05
.06
.11
.16
.26
.73

3 .83
3 .95
3 .95
4.. 0 1
4.. 1 4
4..50

Rates

3.98
4.04
-0.07

3 .94
3 .94
- 0 .00

4 .14
4 .09
0 .05

4 .05
3 .98
0 .07

3 .83
3 .65
0 .18

4.31
4.30
0.01

4 .29
4 .27
0 .02

4 .23
4 .21
0 .01

4 .16
4 .14
0 .02

4 .01
3 .95
0..06

4.31
4.31
0.00

4 .29
4 .23
0 .06

4 .23
4 .29
- 0 .06

4 .16
4 .29
- 0 .13

4 . 01
4 . 05
- 0 . 04

4.35
4.54
-0.19

4 .31
4 52
- 0 .21

4 .26
4 .50
- 0 .24

4 .20
4 .45
- 0 .25

3..99
4..29
- 0 . .30

4.31
4.12
0.20

4 .29
4 .06
0 23

4 .23
4 .10
0 .13

4 .16
4 .05
0 .12

4 .. 0 1
3 ..98
0.. 0 3

4.31
3.97
0.34

4 29
3 95
0 34

4 .23
3 .93
0 .29

4 .16
3 .99
0 .17

4.. 0 1
3.. 7 3
0..28

L o n g T e r m G o v e r n m e n t 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
8.97
8.58
7.93
5.54
6.35
8.29
9.75
7.65

8.
8
8
5
6.
8.
9,
7,

78
71
00
47
41
38
81
58

8
8
8
5
6
8
9
7

.78
.70
.02
.45
.56
.41
.92
.53

8
8
7
5
6
8
9
7

.80
.68
.97
.67
.58
.36
.98
.43

8 . .68
8 .. 6 5
7 ..89
5.. 6 3
6 . 53
8 . .27
9..28
7 . .35

115.03
144.46
105.44
106.45
111.41
142.05
149.41
166.10

115.
143.
104.
109.
111.
143.
149.
165.

05
19
54
55
03
25
73
70

113
144
104
102
110
142
145
164

.70
.92
.61
.81
.49
.35
.77
.24

110
146
105
92
111
141
143
160

.57
.05
.08
.24
.30
.95
.89
.20

1 1 3 . .68
1 4 7 .. 6 1
1 0 6 .. 1 3
9 9 . .96
1 1 3 .. 5 3
1 4 5 .. 7 1
1 5 9 . .28
1 6 8 . .46

Canada
France
Germany
Japan
Switzerland
Netherlands
U n i t e d Kingdom
United States
Chart

.27
.57
.03
.63
.89
.53
.38
.73
.95

3 - M o n t h Funds

covered

Euro-dollar deposit
I n t e r b a n k DM ( F r a n k f u r t ) ,
Differential

4
7
10
9
4
9
8
10
8

Money M a r k e t

3-month E u r o - d o l l a r d e p o s i t
U.S. 90-day C D ' s , s e c o n d a r y market
Differential
Chart

4.30
7.80
9.99
9.59
4.94
9.53
8.20
10.64
8.96

Rates

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

15-Apr--92

Rates

U.S. 90-day CD's, s e c o n d a r y market
Canadian f i n a n c e paper
French i n t e r b a n k r a t e
German i n t e r b a n k r a t e
J a p a n e s e CD r a t e
Netherlands interbank rate
Swiss i n t e r b a n k r a t e
U.K. i n t e r b a n k 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

8 - A p r - 92

Stock

Canada
France
Germany
Japan
Netherlands
Switzerland
U n i t e d Kingdom
United States

Indices

(Wednesday f i g u r e s )

I n d i c e s ( i n o r d e r , r e b a s e d t o 1986=100) a r e T o r o n t o Composite,
T o k y o SE ( T o p i x ) , CBS A l l - G e n e r a l , S w i s s Bank I n d e x , F i n a n c i a l



CAC G e n e r a l , FAZ A k t i e n ,
T i m e s O r d i n a r y , NYSE C o m p o s i t e

#

FEDERAL RESERVE statistical release
H.10(512)

April 20, 1992

FOREIGN EXCHANGE RATES
FOR THE WEEK ENDING

APRIL 17, 1992

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

*AUSIRALIA
DOLLAR
AUSTRIA
SCHILLING
BELGIUM
FRANC
CANADA
DOLLAR
CHINA,P.R.
YUAN
DENMARK
KRONE
*EURO COMMUNITY ECU
FINLAND
MARKKA
FRANCE
FRANC
GERMANY
D. MARK
GREECE
DRACHMA
HONG KONG
DOLLAR
INDIA
RUPEE
*1RELAND
POUND
ITALY
LIRA
JAPAN
YEN
MALAYSIA
RINGGIT
NETHERLANDS
GUILDER
*NEN ZEALAND
DOLLAR
NORWAY
KRONE
PORTUGAL
ESCUDO
SINGAPORE
DOLLAR
SOUTH AFRICA
RAND
SOUTH KOREA
WON
SPAIN
PESETA
SRI LANKA
RUPEE
SWEDEN
KRONA
SWITZERLAND
FRANC
TAIWAN
DOLLAR
THAILAND
BAHT
*UNITED KINGDOM POUND
MEMO:
**UNITED STATES

DOLLAR

Apr. 13
0.7638
11.633
34.030
1.1863
5.5077
6.4120
1.2387
4.5050
5.6080
1.6552
193.30
7.7340
29.050
1.6145
1245.75
133.28
2.5510
1.8641
0.5447
6.4760
142.15
1.6580
2.8820
784.30
103.57
N.A.
5.9740
1.5250
25.300
25.610
1.7620
89.99

> CURRENCY UNITS PER DOLLAR )
Apr. 14
Apr. 15
Apr. 16
0.7661
11.578
33.860
1.1818
5.5077
6.3790
1.2450
4.4870
5.5725
1.6451
192.35
7.7305
28.950
1.6210
1237.75
132.79
2.5470
1.8527
0.5453
6.4450
141.30
1.6530
2.8700
784.90
103.05
N.A.
5.9450
1.5135
25.308
25.610
1.7710
89.50

0.7650
11.685
34.180
1.1799
5.5328
6.4260
1.2320
4.5230
5.6220
1.6618
194.05
7.7350
28.970
1.6070
1248.50
133.39
2.5480
1.8709
0.5445
6.4925
142.85
1.6555
2.8830
785.20
104.23
43.253
5.9930
1.5335
25.255
25.630
1.7560
90.20

0.7667
11.735
34.270
1.1823
5.5328
6.4500
1.2309
4.5390
5.6310
1.6660
194.85
7.7410
28.980
1.6000
1252.50
133.90
2.5545
1.8757
0.5438
6.5240
143.25
1.6640
2.8925
785.10
104.58
N.A.
6.0230
1.5430
25.290
25.650
1.7477
90.48

Apr. 17
0.7670
11.750
34.320
1.1820
5.5328
6.4600
1.2282
4.5470
5.6425
1.6690
194.80
7.7395
28.990
1.5995
1255.00
134.00
2.5535
1.8785
0.5430
6.5340
143.46
1.6630
N.A.
784.30
104.75
N.A.
6.0320
1.5450
25.295
N.A.
1.7450
90.61

•VALUE IS U.S. DOLLARS




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