Full text of H.13 Selected Interest and Exchange Rates, Weekly Series of Charts : April 5, 1993

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Selected Interest &
Exchange Rates
Weekly Series of Charts

April 5,1993

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 $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

RATIO SCALE
MARCH 1973=100

120

FOREIGN CURRENCY
PRICE OF U.S. DOLLAR

110

130

100

120

90

110

80
70
270

100

BELGIAN FRANC

'

i

i

I

i

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i

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i

i

i

I

i

< '

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l

» i

i

I

i

i

i

I

i

i

i

90
240

250

220

230

200

210

180

i

170

I

i

i

i

160

JAPANESE YEN

SWISS FRANC

190

I

i

i

i

I

i

i

i

'

i

'

l

i

i

i

I

i

i

i

I

i

i

i

100
90

140
100
90

U.K. POUND

80

80

70

70

CANADIAN DOLLAR

60

60

i

50

l

i

i

i

l

i

i

I

i

I

I

I

I

I

I

I

I

I

I

I

I

I

I

50

200

200

180

190

160

180

140

170

120
100
110

GERMAN MARK

DUTCH GUILDER

i

100

i

i

l

i

i

i

I

'

'

i

l

i

i

i

i

i

I

i

i

i

I

i

i

i

I

160
i

i

i

150
55
50

FRENCH FRANC

90

45

80

40

ITALIAN LIRA

70

60

i

i
1990

i




I

i

i

i

l

i

i
1992

i

l

i- i

i

i
1990

I

i

i

35

i

I

i

i
1992

i

I l

i

i

30

CHART 2

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

PERCENT PER ANNUM

2

2
U.K. POUND

i
CANADIAN DOLLAR

A/1

i

y>A AXV
i

i

i

*
i

i

i

I

i

i

i

I

i

i

i

I

i

_L_L

JAPANESE YEN

—

v

i

i

i

i

^
i

i

I

i

i

i

:
i

SWISS FRANC

i

i

I

i

i

i

I

i

'

i

DUTCH GUILDER

V
2

VxAx

—

\a

4

4

6

6

8
2
+

0

1

1

1

1

1

1

1

1

1

1

1

I

i

i

1 1 1 1 1 1 1

i

I

1

1

I

I

I I I

ITALIAN LIRA

FRENCH FRANC

0

2

2

4

4

6
8

6

10

1

1 1
1990




1

1

I

I

I

I

I I
1992

I

i

i

i

12

1

10

1

8

12

8
2
+

14
1

1 1
1990

1

1

1

1

1

1

1 1
1992

1

I 1 1

16
18

CHART 3

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

U.S. DOLLARS PER FINE OUNCE

420

—

420

—

400

—

380

12.5 Kg BARS
AFTERNOON FIXING PRICE

400

380

360

340

360

—

—

320
1990




1991

1992

1993

340

320

CHART 4

CALL MONEY RATES
WEEKLY SERIES
PERCENT PER ANNUM
16

PERCENT PER ANNUM
10

U.S. FEDERAL FUNDS

FRANCE

JAPAN

NETHERLANDS

GERMANY

UNITED KINGDOM
CANADA

SWITZERLAND

•

'

1990




i

i

i

'

I

i

i
1992

i

•

i
1990

i

I

» •

1

i

1

1

'

1992

I

•

CHART 5

3-MONTH INTEREST RATES
WEEKLY SERIES
PERCENT PER ANNUM
12

PERCENT PER ANNUM
15
WEIGHTED AVERAGE
FOREIGN RATE

10

13
11

CANADIAN FINANCE PAPER

9
U.S. CD'S
7
5

i

2
16

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

3
10

13

10
U.K. INTERBANK STERLING

i

i

i

I

i

i

i

I

NETHERLANDS INTERBANK RATE

i

i

i

I

i

i

i

I

I

I

I

I

I

l

I

I

7
14

12
FRENCH INTERBANK RATE
JAPANESE CD RATE
10

I

I

I

I

I

I

I

I

I

I

I

I

I

I

I
10

SWISS INTERBANK

GERMAN INTERBANK RATE

I
1990




1992

1990

I

I

I

I

I

I

I

I
1992

I

I

I

I

l

CHART 6

EURO-DOLLAR DEPOSIT RATES LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM
10

1990



PERCENT PER ANNUM
10

OVERNIGHT

3-MONTH

7-DAY

6-MONTH

1-MONTH

1-YEAR

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
10

PERCENT PER ANNUM
10

OVERNIGHT
EURO-DOLLAR DEPOSITS

1-MONTH
EURO DOLLAR DEPOSITS

FEDERAL FUNDS
DASHED LINE

J

I

I

I

I

90-DAY CD'S
DASHED LINE

I

I

I

I

I

I

I

L

J

DIFFERENTIAL

I

I

I

I

I

I

I

I

I

I

I

I

I

I

I

L

I

I

I

I

I

DIFFERENTIAL

17

w - w v / y ^

J

I

I

1990



I

I

I

I

I

I
1992

I

I

I

I

L

J

I
1990

I

I

I

1992

L

CHART 8

INTEREST ARBITRAGE: 3-MONTH FUNDS
DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM
10

PERCENT PER ANNUM
10

8 —
CANADIAN FINANCE
CO. PAPER, COVERED

INTERBANK STERLING
COVERED LONDON

4 —
U.S. COMMERCIAL PAPER
DASHED LINE

EURO-DOLLAR DEPOSITS '
DASHED LINE

i

i

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1 1 1 1 I

I

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I

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I

I

DIFFERENTIAL

DIFFERENTIAL

2
10

I

1 1 I

1 I

1 1 I

1

I

I

I

I

I

I

I

SWISS INTERBANK (SF) COVERED
INTERBANK DM
COVERED FRANKFURT

4 —
EURO-DOLLAR DEPOSITS
DASHED LINE

EURO-DOLLAR DEPOSITS
DASHED LINE

I

I

I

I

I

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I

I

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I

1 » I

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1 I

» I

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DIFFERENTIAL

DIFFERENTIAL
AaaAHJVW\,

V

« I

I

1990



I

I

I

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1 I

I
1992

I

1 I

1 »

I

I
1990

I

I

I

I

I

1992

I

I

2
10

CHART 9

LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
PERCENT PER ANNU

;ENT PER ANNUM
10

UNITED
KINGDOM

UNITED STATES
9
8
7

6
5
12

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i

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i

i

i

•

I

1

»

1

» •

I

» •

'

•

I

•

•

•

1 '

'

•

FRANCE

CANADA
11
10
9
8
7
8

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l

'

» l

'

'wi

I

« i

i

•

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1 i
JAPAN

SWITZERLAND
7

6

5

4
10

I

I

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I

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I

I

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I

I

I
GERMANY

NETHERLANDS
9

'

i

'

1990




l

i

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1 i

i
1992

i

I

i

i
1990

1992

CHART 10

STOCK INDICES
WEEKLY SERIES
RATIO SCALE
1986=100

RATIO SCALE
1986=100

200
UNITED STATES

200

UNITED KINGDOM

180
160
140

120

120

'

1 1

1

'

1

1

1

1

» '

SWITZERLAND

I

' I

I

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1

'

1

I

«

1

FRANCE

CANADA




I

JAPAN

GERMANY

1990

1

NETHERLANDS

1992

1990

1992

1

I

SERIES
3-Mar-93
Chart 1.

10-Mar-93 17-Mar~93 24-Mar-93 31-Mar-93

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

2.9558
80.026
17.932
60.870
0.06343
0.84838
54.128
55 *647
143.69

2.9258
80.311
17.759
60.242
0.06305
0.85240
53.597
65.080
144.25

2.9182
80.169
17.687
60.112
0.06227
0.85040
53.486
65.572
143.95

2.9644
80.245
17.939
61.085
0.06305
0.86049
54.359
66.109
148.35

2.9845
80.073
18.103
61.506
0.06248
0.85916
54.727
66.431
149.18

116 .47
79 .76
80 .81
171 .23
36 .41
222 .13
155 .39
211 .20
58 .12

115 .29
80 .04
80 .03
169 .47
36 ,
.19
223 .19
153,.87
209,.37
58..34

114 .99
79 .90
79 .70
169 .10
35 .74
222..66
153. 55
210. 95
58 .22

116 .81
79 .98
80 .84
171 .84
36 .19
225 .30
156 .05
212 .68
60 .00

117 .60
79 .81
81 .58
173 .02
35 .87
224..96
157 ,
.11
213..72
60 .34

110 .57
74 .83
73 .88
177 .70
31 . 14
233 .12
150 .81
53 .11
205 .85
52 .40
94 .48

111 .06
73 .99
74 .10
178 .67
31 . 17
233 .20
151 .57
52 .94
205 .15
53 .48
93 .11

111 .55
73 .62
74 .64
179 .60
30 .78
232 .13
152 .25
52 .81
205 . 6 4
53 .66
92 .81

-2 .14
-8 .02
-4 .63
-7 .82
0.. 05
-4. 30
-1 .87
-2. 65

-2 . 05
-8 . 08
-4 .83
-7..97
-0.. 08
-4.,41
-1 .92
-2. 80

-1 .99
-7 .21
-4 .75
-8 .24
-0 .11
.
-4..34
-1 .
.90
-2..67

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.

3-Month Forward Exchange Rates,

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

Gold Price in London, Afternoon

U.S. dollars per fine ounce
Chart 4.

111.38
74.22
74.53
179.13
31.56
230.98
151.80
53.06
204.86
51.95
93.78

110 .52
74 .74
73 .97
177 .53
31 .46
232 .96
150 .67
54 .07
203 .64
52 .35
94 .13

V e m i u m or Discount
-2.59
-8.64
-5.04
-8.10
-0.01
-4.70
-2.27
-2.85

-2 .26
-8 .09
-4 .82
-7 .84
,
0..07
-4..51
-2..06
-2..77

ixing
328.88

327 .67

327. 93

331 .48

333. 84

3.24
3.08
5.55
11.24
8.67
3.13
8.27
5.40
6.03

3. 02
2. 94
5. 38
11. 00
8. 50
3. 11
8. 17
5. 33
5. 95

3. 04
2. 99
4. 75
10. 91
8. 44
3. 11
7. 90
5. 35
6. 18

2. 93
2. 85
4. 88
10. 93
8. 49
3. 16
7. 90
5. 40
6. 10

ND
3. 09
4. 55
10. 83
7 .06
3. 38
7 .96
5. 50
5. 45

Call Money Rates

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




SERIES
Chart 5.

3--Mar-93

3-Month Interest Rates

U.S. 90-day CD's, s e c o n d a r y market
Canadian finance paper
French interbank rate
German interbank rate
Japanese CD rate
Netherlands interbank rate
Swiss interbank rate
U.K. interbank s t e r l i n g
Weighted average foreign interest rate
(G-10 C o u n t r i e s )
Chart 6.

3 .11
6 .08
11 .53
8 .22
3 .27
7 .80
5 .28
6 .01
7 .23

3 .12
5 .73
11 .06
7 .90
3 .26
7 .49
5 .10
5 .90
7 .00

3 .12
5 .58
10 .95
7 .73
3 .24
7 .36
4 .96
5 .85
6 .89

3 .10
5 . 46
10 .93
7 .75
3 .26
7 .40
4 .99
5 .95
6 .94

3 .12
5 .37
10 .30
7 .83
3 .29
7 .45
5 .01
5 .90
6 .94

3 .08
3 .04
3 . 06
3 . 09
3 .19
3 .46

2 .94
2 .99
3 . 06
3 .10
3 .20
3 .43

2 .99
3 .03
3 .06
3 .13
3 .23
3 .48

2 .85
2 .99
3 . 06
3 . 13
3 .20
3 .46

3 .09
3 .06
3 .06
3 .11
3 .23
3 .50

Euro-Dollar Deposit Rates

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

10 -Ma r -93 17-Mar -93 24-Mar -93 31-Mar -93

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

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

3 .08
3 .24
-0 .17

2 .94
3 .02
-0 . 09

2 .99
3 . 04
-0 .05

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

3 . 09
3 .11
-0 . 02

3 .10
3 .12
-0 . 02

3 .13
3 .12
0..00

3,.13
3 .10
0,. 03

3 .11
3 .12
-0 .01

3..13
3.. 16
-0..04

3..13
3.
.11
0.
.01

3 .11
3 .19
-0.. 08

Chart 8.

2 .85
2 .93
-0,.08

3 .09
ND
ND

Interest Arbitrage, 3-Month Funds

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

3 .09
3 .12
-0 .04

3 .10
3 . 09
0 .01

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

3 .15
3 .45
-0 .30

3 . 16
3 .44
-0 .28
,

3. 19
3. 41
-0 .23

3.,16
3.,39
-0. 22

3..18
3..35
-0.,17

Euro-dollar deposit
Interbank DM (Frankfurt), covered
Di fferentia1

3 .09
3 .07
0 .02

3,.10
2 .99
0 .11
,

3. 13
3.,01
0. 11

3. 13
2.,83
0.,30

3..11
2..99
0., 12

Euro-dollar deposit
Swiss interbank, covered
Differential

3 .09
2 .97
0 .12

3..10
3 .02
0 .08
,

3., 13
3. 07
0. 05

3.,13
3.,04
0.
, 08

3.,11
3,, 09
0.
,03

.34
.53
.68
.05
.89
.58
.72
.97

.36
7.
7,
.31
6 .53
,
4 .11
4..71
.
6 .51
.56
7.
5..89

7 .59
7 .33
6 .54
4. 16
4. 63
6 .47
7 .72
6 .06

7 .45
7 .35
6 .65
4. 22
4. 63
6 .63
7 .66
5. 94

7 .48
7 .28
6 .65
4. 35
4. 66
6 .67
7 .75
6 .04

115 .54
146 ,
.35
100 .09
96 ,
.23
115,.91
164 .15
175 .68
.88
181 .

118,.37
146 ..89
101 ,.13
101 ..47
119 ..44
166 ,.58
178..40
184..78

118. 00
145. 23
99. 84
103. 27
119. 22
166 .21
174. 49
181. 82

120. 09
144. 15
97 .67
105. 52
117 .97
166 .91
173. 43
181 .51

119. 53
150. 20
99. 27
109. 84
119 .76
170. 44
172. 66
183. 18

Chart 9.

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

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

7
7
6
4
4
6
7
5

Stock Indices (Wednesday f i g u r e s )

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


FEDERAL RESERVE statistical release
H.10(512)

FOREIGN EXCHANGE RATES
FOR THE WEEK ENDING

APRIL 2, 1993

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:
MONETARY
UNIT

Mar. 29

•AUSTRALIA
AUSTRIA
BELGIUM
CANADA
CHINA,P.R.
DENMARK
*EURO COMMUNITY
FINLAND
FRANCE
GERMANY
GREECE
HONG KONG
INDIA
•IRELAND
ITALY
JAPAN
MALAYSIA
NETHERLANDS
*NEW ZEALAND
NORWAY
PORTUGAL
SINGAPORE
SOUTH AFRICA
SOUTH KOREA
SPAIN
SRI LAMCA
SWEDEN
SWITZERLAND
TAIWAN
THAILAND
•UNITED KINGDOM

DOLLAR
SCHILLING
FRANC
DOLLAR
YUAN
KRONE
ECU
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

0.7078
11.468
33.580
1.2468
5.7333
6.2625
1.1890
5.9120
5.5315
1.6297
222.40
7.7318
31.500
1.4924
1612.00
116.77
2.5917
1.8320
0.5341
6.9355
151.50
1.6415
3.1805
796.40
116.82
47.260
7.7495
1.5090
N. A.
25.380
1.4904

MEMO:
U N I T E D STATES

DOLLAR

COUNTRY

93.01

(CURRENCY UNITS PER DOLLAR)
Mar. 30
Mar. 31
Apr. 1
0.7108
11.387
33.320
1.2514
5.7333
6.2135
1.1983
5.8790
5.4930
1.6180
222.40
7.7314
31.500
1.5035
1603.50
116.62
2.5920
1.8185
0.5345
6.8825
149.92
1.6415
3.1835
796.90
115.51
47.400
7.6970
1.4960
26.160
25.390
1.4950
92.57

0.7044
11.319
33.180
1.2573
5.7333
6.1840
1.2047
5.8430
5.4680
1.6105
219.95
7.7310
31.500
1.5122
1592.50
114.90
2.5920
1.8096
0.5316
6.8495
148.60
1.6392
3.1700
797.10
114.97
47.450
7.7275
1.4915
26.110
25.380
1.5090
9c.16

0.6970
11.288
32.900
1.2585
5.7333
6.1350
1.2145
5.7995
5.4220
1.5970
219.70
7.7325
31.500
1.5240
1588.50
114.10
2.5930
1.7954
0.5276
6.7900
147.95
1.6345
3.1760
797.10
114.14
47.420
7.6060
1.4824
26.069
25.340
1.5260
91.39

Apr. 2
0.6970
11.215
33.190
1.2605
5.7333
6.1950
1.2047
5.8520
5.4735
1.6105
219.20
7.7310
31.600
1.5095
1591.25
114.20
2.5908
1.8110
0.5288
6.8560
149.95
1.6310
3.1810
798.30
115.05
47.350
7.6215
1.4910
26.054
25.320
1.5130
91.94

*VALUE IS U.S. DOLLARS
**INDEX 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.
THIS RELEASE IS AVAILABLE ONLINE THROUGH THE FACILITIES OF THE DEPARTMENT OF COMMERCE'S
ECONOMIC BULLETIN BOARD. FOR INFORMATION, CALL (202) 482-1986.
FOR INFORMATION ABOUT YOUR SUBSCRIPTION TO THIS RELEASE OR ABOUT RECEIVING IT IN DOCUMENT
FORM, PLEASE CALL PUBLICATIONS SERVICES AT THE FEDERAL RESERVE BOARD AT (202) 452-3244.