Full text of H.13 Selected Interest and Exchange Rates, Weekly Series of Charts : April 24, 1995

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Selected Interest &
Exchange Rates
Weekly Series of Charts

April 24,1995

DIVISION OF
INTERNATIONAL FINANCE

Prepared by the
FINANCIAL MARKETS
SECTION

BOARD OF GOVERNORS
FEDERAL RESERVE SYSTEM
Washington, D.C. 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 P R I C E - L O N D O N
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
115

RATIO SCALE
MARCH 1973=100
150

FOREIGN CURRENCY
PRICE OF U.S. DOLLAR

140

BELGIAN FRANC

130
120
110
100

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JAPANESE YEN

90
340
300

SWISS FRANC

260
220

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85

CANADIAN DOLLAR
U.K. POUND

75

65

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DUTCH GUILDER

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215

GERMAN MARK

—

55

195
175
155

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135
55

ITALIAN LIRA

FRENCH FRANC

45

35

25
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CHART 2

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

PERCENT PER ANNUM

2

2
U.K. POUND

CANADIAN DOLLAR

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JAPANESE YEN

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SWISS FRANC

DUTCH GUILDER

FRENCH FRANC

ITALIAN LIRA

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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 —

400

380 - -

380

360 —

360

340 —

340

320

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1991




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1995

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320

CHART 4

CALL MONEY RATES
WEEKLY SERIES
PERCENT PER ANNUM

PERCENT PER ANNUM
7

10

SWITZERLAND

U.S. FEDERAL FUNDS

JAPAN

NETHERLANDS

GERMANY

FRANCE

CANADA

UNITED KINGDOM

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1993

1995

M

CHART 5

3-MONTH INTEREST RATES
WEEKLY SERIES
DENT PER ANNUM

PERCENT PER AN

10

CANADIAN FINANCE PAPER

8

WEIGHTED AVERAGE
FOREIGN RATE

6

4

2
12

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U.S. CD'S

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NETHERLANDS INTERBANK RATE
10
U.K. INTERBANK STERLING

8

6

4
7

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FRENCH INTERBANK RATE

JAPANESE CD RATE

3

1
10

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GERMAN INTERBANK RATE

8
SWISS INTERBANK

6
4
2

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CHART 6

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

8

OVERNIGHT
6

3-MONTH

—

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7-DAY

6-MONTH

1-MONTH

1-YEAR

1993

1995

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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
CENT PER ANNUM

PERCENT PER ANN

7

6

5
3-MONTH
EURO-DOLLAR DEPOSITS

OVERNIGHT
4

l\ i

EURO-DOLLAR DEPOSITS

3

90-DAY CD'S
DASHED LINE

FEDERAL FUNDS
DASHED LINE

2

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DIFFERENTIAL
+

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1993

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DIFFERENTIAL
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CHART 8

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

PERCENT PER ANNUM

7

6

7
CANADIAN FINANCE
CO. PAPER, COVERED

INTERBANK STERLING

—

COVERED LONDON

U.S. COMMERCIAL PAPER
DASHED

EURO-DOLLAR DEPOSITS
DASHED LINE

3 —

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DIFFERENTIAL

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DIFFERENTIAL

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INTERBANK DM

6 —

COVERED FRANKFURT

SWISS INTERBANK (SF) COVERED

5 —
EURO-DOLLAR DEPOSITS
/\

EURO-DOLLAR DEPOSITS

DASHED LINE

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DASHED LINE

3 —

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DIFFERENTIAL

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DIFFERENTIAL

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CHART 9

LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
PERCENT PER ANNl

3CENT PER ANNUM

11

9
UNITED KINGDOM

UNITED STATES

10

8

9
7
8
6

5

7
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10

6
10

FRANCE

CANADA

9

9

8
8
7
7

6
8

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6

JAPAN

SWITZERLAND
7

5

6

4

5

3

4
9

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GERMANY

NETHERLANDS
8

8

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7

6

6

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CHART 10

STOCK INDICES
WEEKLY SERIES
RATIO SCALE
1986=100

RATIO SCALE
1986=100

200

220

UNITED KINGDOM

UNITED STATES

JAPAN

SWITZERLAND

1

•

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NETHERLANDS

FRANCE

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CANADA

GERMANY

110

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—

120

100

22-Mar-95 29-Mar-95 5-Apr-95
Chart 1.

12-Apr-95 19-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

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

3.5371
72.995
20.722
72.765
0.05867
1.21507
64.969
88.133
161.17

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

139.38
72.75
93.38
204.69
33.68
318.15
186.51
283.53
65.19

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

119.55
59.55
77.26
193.86
25.71
304.51
163.62
50.41
247.08
52.09
81.30

-1. 97
-1. 83

-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

-1.68
-1.54
1.62
-4.40
4.85
1.56
2.74
-0..35

382.49

390.29

391.17

392.53

6.20
6.09
8.02
7.66
4.47
1.79
4.49
3.40
5.75

5 .98
5 .89
7 .98
7 .58
4 .49
1 .70
4 .40
3 .14
5 .08

6..07
5..89
8..02
7 .56
,
4,.50
1,.40
4 .42
,
3 .42
5 .29

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

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 Exchan

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

119 .28
59 .28
76. 93
193 .95
26. 13
285. 96
163 .32
51. 19
246. 86
52 .78
83 .38

Rates, Premium or Discount
-1,.93
-2 .18
,
1,.25
-5 .29
4 .18
1 .14
2 .67
-0 .37

1. 24
,84
-4 .
,25
4.
1., 14
2.
.63
- 0 ..36

Gold Price in London, Afternoon Fixing

U.S. dollars per fine ounce
Chart 4.

119 .43
59 .19
76. 52
194 .,57
26..16
284 ..52
163..90
51..85
246,.21
52..39
83 .
.66

382.74

Call Money Rates

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




5,.97
5..88
8,.01
7 .78
.
4 .82
2 .14
,
4 .93
,
3 .55
5 .68

6.06
5.98
7.99
7.75
4.54
2.12
4.89
3.56 ,
6.35

lar -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 .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

6 .10
8 .08
7 .60
4 .57
1 .53
4 .62
3 .38
6 .52
5 .12

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

5 .89
5 .94
5 .99
6 .13
6 .26
6 .51

Euro-Dollar Deposit Rates

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

12-Apr -95 19-Apr -95

Selected Euro-dollar & U.S. Mone]r Market Rates

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

5 .88
.
5..97
-0.,09

5,.98
6..06
-0..08

6 . 09
6 .20
-0 .11

5 .89
.
5..98
-0..09

5 .89
,
6 .07
-0..18

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

6..10
6..13
-0..03

6..14
6..13
0..01

6 .19
6 .16
0 .02

6..15
6..12
0..03

6..13
6..10
0..02

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

6..10
6..13
-0.,03

6..14
6..26
-0..12

6 .19
6 .28
-0 .10

6.,15
6. 19
-0.04

6..13
6.,16
-0.,04

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

6.,14
6. 38
-0.24

6..13
6.,33
-0.20

6 .17
6 .37
-0 .20

6. 13
6. 38
-0.,25

6.,10
6.,36
-0.,26

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

6. 10
6, 22
-0.12

6. 14
6. 21
-0.07

6 .19
6 .26
-0 .07

6.,15
6.,15
-0.,00

6.,13
6..20
-0.,08

Euro-dollar deposit
Swiss interbank, covered
Differential

6. 10
6. 28
-0.18

6. 14
6. 18
-0.04

6,.19
6,.28
-0,.10

6. 15
6. 12
0. 03

6. 13
6. 14
-0.01

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

8 .39
7 .80
7 .07
3 .44
4 .81
7 .17
8 .33
7 .04

Chart 8.

Chart 9.

Interest Arbitrage, 3-Month Funds

Long Term Government Bellwether Bond Yields
10-year maturity, where available

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

8. 64
7 .96
7. 17
4 .03
5. 07
7. 35
8.43
7. 13

Stock Indices (Wednesday figures)
3)

Canada
142 .07
143 .26
142 .80
143 .18
France
140. 83
142 .98
144 .99
144 .62
Germany
110. 28
106 .41
109 .00
110 .58
Japan
95. 66
99 .29
96. 72
98. 68
Netherlands
145. 15
144 .61
146. 02
147. 75
Switzerland
210. 10
208 .85
209. 88
210. 90
United Kingdom
185. 74
186 .66
189. 61
189. 89
United States
196. 87
199 .84
201. 04
201. 46
^
Indices (in order, rebased to 1986=100)
B,
at 22dec93, FAZ Aktien, Tokyo SB (Topix), CBS All-General, Swiss Bank Index,
Financial Times Ordinary, NYSE Composite



142 ,
.74
144 ,
.99
108..47
98..80
146..99
207.,80
187..71
200.,49
to SBF250

FEDERAL RESERVE statistical release
H.10(512)

A p r i l 24; 1995

FOREIGN EXCHANGE RATES
FOR THE WEEK ENDING

APRIL 21, 1995

The B o a r d of G o v e r n o r s of the Federal R e s e r v e System is advised rhat the Federal Reserve Sank of New York has certified
for customs p u r p o s e s the following noon b u y i n g rates in New York City for cable t r a n s f e r s p a y a b l e in foreign currencies:

MONETARY
UNIT

A p r . 17

^AUSTRALIA
AUSTRIA
BELGIUM
CANADA
CHINA,P.R.
DENMARK
*EURO C O M M U N I T Y
FINLAND
FRANCE
GERMANY
GREECE
HONG KONG
INDIA
^IRELAND
ITALY
JAPAN
MALAYSIA
MEXICO
NETHERLANDS
*NEW Z E A L A N D
NORWAY
PORTUGAL
S I N G A P O RE
SOUTH AFRICA
SOUTH KOREA
SPAIN
SRI LANKA
SWEDEN
SWITZERLAND
TAIWAN
THAILAND
*UNITED K I N G D O M

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

0.7418
9.637
28.160
1.3663
8.4438
5.3900
1.3419
4.2445
4.7900
1.3695
222.63
7.7327
31.410
1.6505
1687.75
82.10
2.4635
6.2700
1.5338
0.6751
6.1340
144.19
1.3953
3.6060
773.20
121.670
49.200
7.2505
1.1292
25.350
24.520
1.6195

0.7411
9.605
28.090
1.3697
8.4436
5.3750
1.3406
4.2445
4.8060
1.3650
222.30
7.7318
31.395
1.6542
1704.00
81.40
2.4685
6.2400
1.5289
0.6718
6.1420
144.19
1.3945
3.5950
771.80
122.470
49.600
7.2925
1.1260
25.350
24.490
1.6140

0.7351
9.538
27.940
1.3711
8.4434
5.3660
1.3420
4.2215
4.8240
1.3565
221.80
7.7310
31.400
1.6575
1717.75
81.12
2.4665
6.1100
1.5192
0.6695
6.1275
143.76
1.3937
3.5900
770.70
123.220
49.230
7.3055
1.1172
25.310
24.470
1.6160

0.7345
9.714
28.420
1.3708
8.4432
5.4345
1.3254
4.3160
4.8810
1.3810
225.52
7.7315
31.440
1.6305
1736.25
82.95
2.4727
6.1200
1.5459
0.6716
6.2250
146.24
1.3980
3.6030
769.30
124.130
49.300
7.4095
1.1430
25.370
24.540
1.6127

0.7325
9.676
28.330
1.3683
8.4430
5.4300
1.3292
4.2970
4.8840
1.3750
224.62
7.7330
31.425
1.6345
1719.25
82.92
2.4660
6.0100
1.5398
0.6720
6.2040
145.58
1.3945
3.6105
768.70
123.390
49.300
7.4060
1.1360
25.410
24.550
1.6100

MEMO:
^UNITED STATES

DOLLAR

80.92

80.90

80.76

81.86

81.65

COUNTRY

(CURRENCY UNITS PER iD O L L A R )
Apr. 18
Apr. 19
A p r . 20

A p r . 21

*VALUE IS U.S. D O L L A R S
**INDEX OF W E I G H T E D A V E R A G E EXCHANGE V A L U E OF U.S.
DOLLAR A G A I N S T C U R R E N C I E S OF OTHER G - 1 0
COUNTRIES.
M A R C H 1973 = 100.
W E I G H T S ARE 1972-76 GLOBAL T R A D E OF EACH OF THE 10 C O U N T R I E S .
SERIES REVISED AS OF A U G U S T 1978.
FOR DESCRIPTION AND BACK DATA, SEE " I N D E X OF THE
W E I G H T E D - A V E R A G E E X C H A N G E V A L U E OF THE U.S. DOLLAR: R E V I S I O N " ON PAGE 700 OF THE A U G U S T
1978 FEDERAL R E S E R V E B U L L E T I N .
THIS RELEASE IS A V A I L A B L E ONLINE THROUGH THE F A C I L I T I E S OF THE D E P A R T M E N T OF C O M M E R C E ' S
ECONOMIC B U L L E T I N B O A R D .
FOR I N F O R M A T I O N , CALL (202) 4 8 2 - 1 9 8 6 .
FOR I N F O R M A T I O N A B O U T YOUR S U B S C R I P T I O N TO THIS RELEASE OR ABOUT R E C E I V I N G IT IN D O C U M E N T
F O R M , PLEASE CALL P U B L I C A T I O N S S E R V I C E S AT THE FEDERAL R E S E R V E B O A R D AT (202) 4 5 2 - 3 2 4 4 .