Full text of H.13 Selected Interest and Exchange Rates, Weekly Series of Charts : April 30, 1990

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Selected Interest &
Exchange Rates
Weekly Series of Charts

April 30,1990

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 $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 m 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

RATIO SCALE
MARCH 1973=100

140

FOREIGN CURRENCY
PRICE OF U.S. DOLLAR

140
130
120

BELGIAN FRANC

—

110
100
90

80
i

i

i

I

i

i

i

I

i

i

i

I

i

i

'

i

'

'

SWISS FRANC

—

I

•

•

>

I

'

'

»

I

'

I

I

JAPANESE YEN

70
280
260
240
220
200
180
160
140

i

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l

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»

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I

•

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i

CANADIAN DOLLAR

—

U.K. POUND

i

120
100
90

80
70

60
i

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i

I

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i

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i

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l

i

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1

I

1

1

»

I

1

1

1

50

200

GERMAN MARK

180

DUTCH GUILDER

160
140
120
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•

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100
60
55

ITALIAN LIRA

50

FRENCH FRANC

45
40
35
30

I

i

I

I




I

'
'
1988

I

' I

I

I

I

'
I
1990

'

'

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• '
1988

I

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1990

25

CHART 2

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

PERCENT PER ANNUM

4

4
U.K. POUND

CANADIAN DOLLAR

I

I

I

I

I

I

I

I

I

I

I

I

I

I

I
JAPANESE YEN

GERMAN MARK

—

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<

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rKf

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|f\

—

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i

I

i

I

I

I

I

I

I

I

I

I

I

—

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I

i

y x v

I

I

I

I

ITALIAN LIRA

FRENCH FRANC
v

V \

/

V y V

I

/

DUTCH GUILDER

SWISS FRANC

—

A

V

,
—

12

i

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•

i




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1988

1

i

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1

1 1
1990

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1988

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1990

8

12

CHART3

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
520

U.S. DOLLARS PER FINE OUNCE
520

—

500

12.5 Kg BARS
AFTERNOON FIXING PRICE

480

500

480

460

460

440

440

420

420

400

400

380

380

360

360

340

340

J

320
1987




I

L

J
1988

I
1989

L

320
1990

CHART 4

CALL MONEY RATES
WEEKLY SERIES
PERCENT PER ANNUM

PERCENT PER ANNUM

16

16

12

12

FRANCE

U.S. FEDERAL FUNDS

JAPAN

0
16

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16

12

12
CANADA
GERMANY

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UNITED KINGDOM




i

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I

I

I

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I

I

SWITZERLAND

NETHERLANDS

1988

1990

1988

1990

CHARTS

3-MONTH INTEREST RATES
WEEKLY SERIES
PERCENT PER AN

:ENT PER ANNUM

12

12
FRENCH INTERBANK RATE

10

10

U.S. CD'S

8

8

6

6
WEIGHTED AVERAGE
FOREIGN RATE

4
I

2

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16

2
16

14

14

U.K. INTERBANK STERLING

CANADIAN FINANCE CO.
PAPER

12

12

10

10

8

8
I

6

I

I

I

I

i

I

i

i

I

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8

6
16

10

—

GERMAN INTERBANK RATE

SWISS INTERBANK RATE

—

12

6

8

4

4

2
10

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0
10

NETHERLANDS INTERBANK RATE

8

8

JAPANESE GENSAKI RATE

6

6

4

4

2

I

I

I




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1988

I

I

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I

I

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1990

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1988

I

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1990

2

CHART 6

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

PERCENT PER AN

14

14

OVERNIGHT

12

3-MONTH

12

10

10

8

8

6

6

4
14

•

'

'

I

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7-DAY

12

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6-MONTH

4
14

12

10

10

8

8

6

6

4
14

•

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l

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1-MONTH

12

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4
14

1-YEAR

12

10

10

8

8

6

6

4

•

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l
1988

i

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1990

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1988

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1990

'

4

•

#r~

#

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#

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s

e

CHART 7

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

PERCENT PER ANNL

14

12

10

OVERNIGHT

3-MONTH

EURO-DOLLAR DEPOSITS

EURO-DOLLAR DEPOSITS ,

8

6
FEDERAL FUNDS

90-DAY CD'S

DASHED LINE

DASHED LINE

4

J

2
2

i

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I

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J

L_L

I

DIFFERENTIAL

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1988

I

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L

J

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L

DIFFERENTIAL

1

+

0

1

J

I




I

I

I

I
1988

I

I

I

I

I

I

I

I
1990

I

I

I

I

I

I

1990

CHART 8

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

PERCENT PER ANNUM

16

16

12

'

I '

I

I

'

I

I

I

I

12

U.S. COMMERCIAL PAPER

EURO-DOLLAR DEPOSITS

DASHED LINE

DASHED LINE

01

—

CANADIAN FINANCE
CO. PAPER, COVERED

INTERBANK STERLING
COVERED LONDON

I

I

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'

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2
DIFFERENTIAL

DIFFERENTIAL

2

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

•

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2
16

16

12

INTERBANK DM

12

SWISS INTERBANK (SF) COVERED

COVERED FRANKFURT

—

EURO-DOLLAR DEPOSITS

EURO-DOLLAR DEPOSITS

DASHED LINE

DASHED LINE

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2

DIFFERENTIAL

DIFFERENTIAL

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1988

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•
1990

'

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1 I

I

1

1988

1

I

'

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1

I

1

1

'

1990

CHART 9

LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
SCENT PER ANNUM

PERCENT PER ANN!

14

14

UNITED STATES

CANADA

12

12

10

10

8

8
'

6

'

'

I

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•

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1

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14

14

UNITED KINGDOM

FRANCE

12

12

10

10

8

6

8
•

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10

6
10

SWITZERLAND

JAPAN

8

8

6

6

4

2
10

6

4

•

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1 '

'

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NETHERLANDS

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GERMANY

2
10

MONTHLY

8

8

6

6

4

2

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1988

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1990

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1988

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1990

i

CHART 10

STOCK INDICES
WEEKLY SERIES
RATIO SCALE
1986=100

RATIO SCALE
1986=100

200

200
175 _

— NETHERLANDS

UNITED STATES

175

150

150

125

125

100

100
75

75

50
400

•

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«

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<

50

200
GERMANY

350 — JAPAN

175

300

150

250

—4 125

200

100

150

75

100
200
175

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— FRANCE

. SWITZERLAND

50
200
175

150

150

125

125

100

100
75

75

50

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50

200

200
, UNITED KINGDOM

175 — CANADA

175

150

150

125

125

100

100
— I 75

75

50

•

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1988

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1990

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1988

1990

50

SERIES
28-Ma»
Chart 1.

90 4-Apr-90

ll-Apr-90 18-Apr-90 25-Apr-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

2.8225
85.037
17.368
58.484
0.07946
0.63975
51.967
65.842
161.53

2.8466
85.503
17.511
58.881
0.08002
0.63197
52.274
66.559
163.81

2.8595
85.874
17.600
59.142
0.08048
0.63316
52.520
66.857
163.91

2.8852
85.827
17.768
59.709
0.08122
0.62869
53.020
67.272
163.67

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

112. 17
85. 22
78. 91
165. 64
45. 93
165. 47
150. 07
214. 13
66 .26

112 .68
85 .59
79 .31
166 ,
.37
46 .
.20
165,.78
150. 77
215. 09
66 .29

113 .69
85 .54
80 .07
167 .97
46 ,
.62
164,,61
152..21
216, 42
66 .20

112 .95
85 .84
79 .51
166 .63
46 ,
.35
165..83
151.. 12
216 ,,74
66 .22

107 .43
79 .98
72 .90
172 .82
40 .73
166 .23
146 .80
67 .80
208 .50
60 .00
93 .64

108 .03
79 .62
73 .38
174 .05
40 .97
164 .25
147 .72
67 .81
209 .05
59 .67
93 .21

107 .54
80 .11
72 .99
172 .85
40 .81
166 . 02
146 .93
67 .78
209 .84
59 .83
93 .48

-4 .85
-1 .54
0 .19
-3 .43
1 .08
.
-0 .09
-0..78
-6 .
.36

-4 .84
-1 .48
0 .25
-3 .54
1 .00
-0,.07
-0..79
-6. 41

-4 .79
-1 .20
0 .27
-3 .30
1 . 23
-0 . 02
-0 . 95
-6 .26

2.8664
86.121
17.644
59.233
0.08074
0.63333
52.639
67.369
163.71

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

106.76
79.75
72.40
171.98
40.49
169.51
146.25
67.74
206.75
59.51
94.49

107 .25
79 .86
72 .73
172 .52
40 .61
166 .43
146 .53
67 .82
208 .18
60 .16
94 .00

Chart 2

3-Month Forward Exchange Rates, Premium or Discount
Canadian dollar
-4.81
-4 .87
French franc
-1.95
-1
.65
German mark
0.19
0 .31
Italian lira
-4.01
-3 .54
Japanese yen
0.97
1 .14
Netherlands guilder
-0.18
0 .01
Swiss franc
-0.65
-0 .59
U.K. pound
-6.50
-6, 33
Chart 3.

Gold Price in London, Afternoon Fixing

U.S. dollars per fine ounce
Chart 4.

379.15

371, 53

376. 50

374. 75

375. 05

8.26
8.15
12.88
10.13
7.35
6.67
7.92
8.28
14.73

8. 33
8. 28
12. 74
10. 04
7. 57
6 .88
8. 06
8. 38
14. 63

8. 25
8. 20
12. 70
9. 98
7 .85
6 .99
8. 34
8. 38
14. 60

8. 27
8. 23
12. 65
9. 92
7. 82
6. 92
8. 28
8. 38
14. 81

8. 24
8. 20
12. 75
9. 60
7 .69
7 .07
7 .68
8. 78
14. 89

Call Money Rates

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

e




28-Mar-90 4-Api—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 .36
13 .35
10 .39
8 .35
6 .38
8 .52
8 .83
15 .30
10 .07

8 .37
13 .46
10 .23
8 .21
6 .50
8 .39
8 .88
15 .16
9 .97

8 .36
13 .56
10 .05
8 .20
6 .60
8 .45
8 .90
15 .12
9 .96

8 .34
13 .55
9 .96
8 .17
6 .62
8 . 44
8 .88
15 .17
9 .93

8 .48
13 .68
9 .81
8 .22
6 . 66
8 .50
9 .20
15 .16
9 .94

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

8 .28
8 .28
8 .29
8 .40
8 .68
8 .85

8 .20
8 .25
8 .30
8 .38
8 .54
8 .78

8 .23
8 .25
8 .29
8 .38
8 .46
8 .71

8 .20
8 .25
8 .34
8 .49
8 ,68
9 .01

Euro-Dollar Deposit Rates

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

11-Ap;—90 18-Api—90 25-Api—90

Selected Euro-dollar & U.S. Money Market Rates
8 .20
8 .25
-0 . 05

8 .23
8 .27
-0 .05

8 .20
8 .24
-0 . 04

8 .40
8 .37
0 .03

8 .38
8 .36
0 .02

8 .38
8..34
0..04

8 .49
8..48
0..01

8 .38
8 .55
-0 .17

8 .40
8 .59
-0 .19

8 .38
8 .51
-0 .14

,
8 .38
8 .52
-0 .14

8..49
8 . 66
-0 .17

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

8 .31
8 .38
-0 .08

8 .30
8 .43
-0 .13

8 .26
8 .55
-0 .29

8 .24
8 .54
-0 .30

8 .32
8 .72
-0 .40

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

8 .38
8 .55
-0 .17

8 .40
8 .52
-0 .12

8 .38
8 .39
-0 .01

8 .38
8 .42
-0,.05

8 .49
8..50
-0. 01

8 .38
8 .16
0 .22

8 .40
8 .27
0 .13

8 .38
8 .10
0 .27

8 .38
8..07
0. 31

8.,49
8..23
0. 26

10 .91
10 .48
8 .81
7 .34
6 .47
11 .24
8 .52

11 .14
10 .39
8 .72
7 .34
6 .58
11 .16
8 .62

11 .41
10 .12
8 .84
7 .26
6 .55
11 .06
8 .59

11.,76
10. 14
8. 88
7 .30
6. 61
11 .33
8. 74

ND
ND
8. 95
ND
6.,61
,46
11 .
8. 95

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

121 .13
146 .26
124 .01
156 .98
107 .18
130 .83
135 .75
137 .70

118 .83
150 .12
119 .63
165 .24
105 .99
131 .81
134 .48
137 .89

115. 85
152. 54
120. 12
163. 93
107..67
132.,16
134. 42
137.,42

Ill. 41
152. 33
116 .63
166. 39
105. 56
131. 46
130. 61
133. 43

8 .15
8 .26
-0 .11

8 .28
8 .33
-0 .05

8 .38
8 .36
0 .02

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

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

Interest Arbitrage, 3-Month Funds

Euro-dollar deposit
Swiss interbank, covered
Differential
Chart 9.

Long Term Government Bond Yields

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

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 All-General, Swiss Bank Index, Financial Times Ordinary, NYSE Composite



-••aSSS:-.

FEDERAL RESERVE statistical release
•f
H.10(512)

April 30, 1990

FOREIGN EXCHANGE RATES
FOR THE WEEK ENDING

APRIL 27, 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
*NEH ZEALAND
NORWAY
PORTUGAL
SINGAPORE
SOUTH AFRICA
SOUTH KOREA
SPAIN
SRI LANKA
SWEDEN
SWITZERLAND
TAIWAN
THAILAND
•UNITED KINGDOM
MEMO:
HKJNITED STATES

MONETARY
UNIT

Apr. 23

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

76.550
11.940
35.070
1.1610
4.7339
6.4550
4.0055
5.6945
1.6975
165.25
7.7935
17.360
158.10
1245.00
157.70
2.7195
1.9095
58.280
6.5630
149.90
1.8775
2.6570
707.90
107.05
40.018
6.1360
1.4930
26.379
25.990
163.57

76.630
11.925
34.990
1.1593
4.7339
6.4435
3.9990
5.6845
1.6945
165.40
7.7910
17.350
158.45
1241.50
158.72
2.7195
1.9064
58.180
6.5575
149.80
1.8795
2.6520
707.90
106.98
40.018
6.1330
1.4880
26.378
26.020
163.41

76.600
11.848
34.750
1.1608
4.7339
6.4065
3.9830
5.6500
1.6834
164.70
7.7910
17.340
159.30
1235.00
158.73
2.7185
1.8943
58.170
6.5340
149.00
1.8775
2.6580
708.40
106.22
40.018
6.1080
1.4670
26.370
N.A.
163.70

75.600
11.836
34.730
1.1602
4.7339
6.3955
3.9875
5.6415
1.6825
164.80
7.7900
17.390
159.40
1233.25
158.75
2.7190
1.8932
57.550
6.5305
149.20
1.8775
2.6540
709.00
106.28
40.018
6.1065
1.4615
N.A.
26.010
163.35

75.030
11.790
34.680
1.1634
4.7339
6.3740
3.9665
5.6240
1.6756
164.68
7.7920
17.390
159.20
1227.75
158.90
2.7170
1.8855
57.350
6.5145
148.30
1.8775
2.6600
709.40
106.86
N.A.
6.0885
1.4570
26.383
26.030
163.60

93.78

93.74

93.34

93.29

93.10

DOLLAR

(CURRENCY UNITS PER DOLLAR)
Apr. 24
Apr. 25
Apr. 26

Apr. 27

•VALUE IS U.S. CENTS
**IN0EX 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.