Full text of H.13 Selected Interest and Exchange Rates, Weekly Series of Charts : August 1, 1994

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

(516/517)

Selected Interest &
Exchange Rates
Weekly Series of Charts

August 1,1994

DIVISION O F
INTERNATIONAL FINANCE

Prepared by the

BOARD OF GOVERNORS

FINANCIAL MARKETS
SECTION

Washington, DlC. 20551




FEDERAL RESERVE SYSTEM

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
SCALE
1973=100
120

RATIO SC
MARCH 1973

FOREIGN CURRENCY
PRICE OF U.S. DOLLAR

110

100
90

80

BELGIAN FRANC

70

I

60

•

'

'

I

'

'

I

I

I

I

•

I

i

i

I

i

'

•

i

•

•

»

l

i

i

i

I

'

'

I

I

I

I

'

•

'

I

I

'

I

I

I

'

I

I

I

I

i

i

i

I

i

i

i

290
270
250
230
210
190

JAPANESE YEN

SWISS FRANC

170

I

150

I

I

I

I

1

1

1

I

1

1

1

I

'

I

'

'

I

I

I

I

'

85
75
65

U.K. POUND

55

I

45

I

I

I

CANADIAN DOLLAR
I

I

I

I

I

I

I

I

I

I

I

I

I

I

I

'

'

I

•

200
180

160
140

DUTCH GUILDER

120

»»

100

I

I

I

GERMAN MARK
I

1

I

I

I

I

I

I

I

I

I

I

I

'

I

I

I

105
95
85
75
65

55

—

ITALIAN LIRA

FRENCH FRANC
'




I

I

I

I
1992

I

I

I

I

I

I

I

I
1994

I
1992

1994

CHART 2

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

PERCENT PER ANNUM

U.K. POUND

GERMAN MARK

8

8
2
CANADIAN DOLLAR

JAPANESE YEN

0

2

4

6
2
+
0

4

SWISS FRANC

DUTCH GUILDER

2
4

6
8
2
+
0

8
ITALIAN LIRA

FRENCH FRANC

2
—

4

6
8
10

12




1992

1994

1992

1994

6

CHART 3

PRICE OF GOLD IN LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
U.S. DOLLARS PER FINE OUNCE
420

U.S. DOLLARS PER FINE OUNCE
420

i
400

12.5 Kg BARS

400

AFTERNOON FIXING PRICE

380

380

360

360

340

340

320




1991

1992

1993

1994

320

CHART 4

CALL MONEY RATES
WEEKLY SERIES
PERCENT PER ANNUM
10

PERCENT PER ANNUM
8

SWITZERLAND

6

U.S. FEDERAL FUNDS

—

4 —

2
10

JAPAN

•

i

i

l

i

»

'

l

«

1

'

I

i

i

I

i

i

i

i

I

i

i

i

I

i

i

i
10

GERMANY
NETHERLANDS

•

'

i




I

i

1

1

I

1

1

•

1

1

1

1

'

i

i

l

'

i

'

I

i

i

4
14

12

FRANCE
10

CANADA

UNITED KINGDOM

I

1992

I

1994

I

•

' I

I

'

i i
1992

I

i

i

i

I

'

i i
1994

CHART 5

3-MONTH INTEREST RATES
WEEKLY SERIES
PERCENT PER ANf

ENT PER ANNUM

13

12
WEIGHTED AVERAGE
FOREIGN RATE

10

11
CANADIAN FINANCE PAPER

8

9

6

7

4

5
'

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

I

I

11

U.K. INTERBANK STERLING

13

9

7

10

NETHERLANDS INTERBANK RATE

7

4
9

3

'

i

i

I

i

•

•

I

'

•

•

I

i

I

i

I

I

I

I

I

I

I

I

5

I

I

I

I

I

I

3
13

JAPANESE CD RATE

7

11

9

5
FRENCH INTERBANK RATE

7

3
i

1
10

I

i

i

i

I

i

i

i

I

i

i

i

i

i

i

I

i

•

i

I

i

i

i

I

' V

i

5
12

10

8
6

8

SWISS INTERBANK
GERMAN INTERBANK RATE

6

4

2

'

i




'

I

i

i i
1992

I

i

i

i

I

i

i i
1994

I

I

I

I

I

I I
1992

I

I

I

1994

I

4

CHART 6

EURO-DOLLAR DEPOSIT RATES L O N D O N
AVERAGES FOR WEEK ENDING WEDNESDAY
)ENT PER ANNUM
10

3-MONTH

OVERNIGHT
8

6

4

I

2
10

I

I

I

I

I

I

I

I

I

I

I

I

I

I

I

I

I

7-DAY

I

1

I

I

«

1

1

I

I

1

I

I

I

I

I

I

I

I

I

6-MONTH

8

6

4

I

2

I

I

«

I

1

1

I

I

I

1

1

»

I

I

I

I

I

I

I

I

10

1-YEAR

1-MONTH

8

6

4

2

'

I

'




I

'

1

1992

1

I

1

1

1

I

1

1

1994

1

1

1

I

1

1

1

1992

1

1

1

1

I

1

1

1

CHART 7

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

PERCENT PER ANNUM

10

10

3-MONTH

OVERNIGHT

EURO-DOLLAR DEPOSITS

EURO-DOLLAR DEPOSITS

90-DAY CD'S

FEDERAL FUN

DASHED LINE

DASHED LINE

L_l I L
DIFFERENTIAL

DIFFERENTIAL

I IIIIIIIIIIIIIL



1992

1994

J IL

i

I
i
1992

I

i

I

I

I

I—I—L
1994

CHART 8

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

PERCENT PER ANNUM

8

8

v

»

INTERBANK STERLING

CANADIAN FINANCE
CO. PAPER, COVERED

COVERED LONDON

U.S. COMMERCIAL PAPER

EURO-DOLLAR DEPOSITS

DASHED LINE

DASHED LINE

'

'

I

I

1

I

1

1

I

1

1

1

I

1

1

I

I

'

I

'

I

I

I

I

I

I

I

I

I

I

I

•

I

•

I

INTERBANK DM

»

I

I

•

'

•

I

'

•

SWISS INTERBANK (SF) COVERED

COVERED FRANKFURT

6 —

I

DIFFERENTIAL

DIFFERENTIAL

I

I

4 —

EURO-DOLLAR

EURO-DOLLAR DEPOSITS'

DASHED LINE
'

I

I

I

I

I

I

I

I

DASHED LINE
I

I

I

I

I

I

'

'

'

I

I

I

I

I

1

I

I

I

I

I

DIFFERENTIAL

DIFFERENTIAL

^W

'

I

I




I

I

I I
1992

I

I

I

'

I

'

1 I
1994

I

I

I

I

I

I

1992

I

I

I

I

I

I

I

I

1994

I

11

CHART 9

LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
PERCENT PER ANNU

CENT PER ANNUM

11

9

UNITED KINGDOM

UNITED STATES
8

9
7

6

7

5

4
11

'

i

i

I

i

i

i

I

i

i

i

I

i

i

»

i

i

•

l

1

i

1

I

1

'

»

1

l

1

'

5
10

FRANCE

CANADA
10

8
9

8

6

7

6
8

'

i

i

l

i

i

!

I

i

i

i

l

i

i

i

i

•

i

i

i

'

I

i

'

'

1

i

i

i

4
7

JAPAN

SWITZERLAND
7

6

6

5

5

4

4

3

3
10

•

•

'

I

i

i

i

I

i

i

•

I

'

•

•

»

'

i

I

i

»

i

l

i

i

i

I

i

i

i

2
10

GERMANY

NETHERLANDS
9

9

8

8

7

7

6

6

5

•

i




i

i

'
1992

i

I

•

i

i

I

i

i
1994

i

I

i

'
1992

i

I

i

i

i

l

i

i
1994

i

5

CHART 10

STOCK INDICES
WEEKLY SERIES
RATIO SCALE
1986=100

RATIO SCALE
1986=100

220

— UNITED KINGDOM

UNITED STATES

ARAN

SWITZERLAND

GERMANY

CANADA

FRANCE

NETHERLANDS

105




1992

1994

1992

1994

29 -Jun-94 6-Jul-94
Chart 1.

13-Jul-94 20-Jul-94 27-Jul-94

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

3.0604
72.119
18.401
63.053
0.06389
0.99906
56.232
75.078
154.81

3.0631
72.219
18.425
63.191
0.06355
1.01492
56.329
75.220
154.48

3.1323
72.100
18.836
64.670
0.06504
1.02246
57.657
76.663
155.82

3.1194
72.459
18.743
64.275
0.06449
1.01471
57.291
76.134
155.63

3.0651
72.510
18.466
63.127
0.06326
1.01573
56.264
74.450
153.15

120..60
71..88
.92
82 .
.37
177 .
36 .67
261,.59
161,.43
241,.54
62 .61

120..70
71..98
.03
83 ,
177..76
36..48
265,.74
161,.71
241,.99
62 .48

123 .43
71 .86
84 .88
181 .92
37 .33
267 .71
165 .52
246 .64
63 .02

122 .92
72 .22
84 .46
180 .81
37 .02
265 .68
164 .47
244 .93
62 .95

120 .78
72 .27
83 .21
177 .58
36 .31
265 .95
161 .52
239 .51
61 .94

112 .48
62 .94
74 .57
181. 68
30. 77
269 .58
154 .16
51. 20
228 .57
53 .,85
88.,17

112 .44
63. 54
74 .48
181. 18
30. 61
268. 41
153 .,74
50..96
227 .
.83
.00
54 .
88..58

111. 57
64. 29
74 .09
179 .49
30. 32
271. 80
152 .44
51. 06
224 .99
53. 65
89 .73

-1..57
-0..79
-0..13
-3 .62
,
2 .87
,
-0 .12
0 .56
-0 .31

-1..43
-0..82
0..01
-3 .43
.
2 .86
,
-0,.04
0 .65
-0 .28

-1,.29
-0,.87
-0 .10
-3 .49
2 .66
,
-0 .11
0 .55
-0 .43

-1..19
-0,.73
-0..20
-3 .56
.
2..70
-0..14
0..46
-0,.48

388 .04

386 .45

384 .57

385 .54

386 .41

4 .19
4 .14
5 .59
5 .33
5 .08
2 .01
4 .89
3 .88
4 .71

4 .38
4 .26
5 .63
5 .33
5 .14
2 .00
4 .90
3 .97
4 .98

4 .30
4 .18
5 .59
5 .33
4 .89
2 .01
4 .86
3 .85
4 .66

4 .30
4 .13
5 .64
5 .31
4 .79
2 .04
4 .54
3 .88
5 .08

4 .28
4 .14
5 .23
5 .26
4 .84
2 .03
4 .70
3 .95
4 .90

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

111. 41
63. 93
73 .81
179 .28
30. 65
266. 86
152 .38
52 .16
226. 99
54 .,30
89.,76

111. 37
63 .94
73 .82
179 .48
30 .43
271. 24
152 .46
51. 01
227 .14
54 .10
89 ..62

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

Fixing
Gold Price in London, Afternoon Fixing

U.S. dollars per fine ounce
Chart 4.

-1..94
-0..89
-0,.24
-3 .52
,
2 .68
,
-0 .27
0 .46
-0 .44

Call Money Rates

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




29-Jun-94 6-Jul-94
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.

4 .62
6 .80
5 .48
4 .90
,
2 .12
4 .92
4 .19
5 .11
4 .90

4.
,78
6.,62
,50
5.
4.
,91
, 11
2.
4.
,93
4.
.19
5.,11
4 .91

4 .79
6 .43
5 .64
4 .87
2 .12
4 .86
4 .16
5 .13
4 .94

4 .66
6 .14
5 .52
4 .81
2 .13
4 .79
4 . 11
5 . 12
4 .86

4 .69
6 .12
5 .43
4 .85
2 .19
4 .80
4 .18
5 .16
4 .86

4.
, 14
4 .23
,
4 .36
,
4 .61
,
4 .96
,
5,.56

4 .26
4 .39
4 .49
4 .80
5 .18
5. 74

4 .18
,
4 .26
,
4 .46
,
4 .78
,
5,.20
5,.74

4 .13
,
4 .24
,
4 .40
,
4 .66
,
5 .10
,
5..58

4.
, 14
4 .19
,
4 .38
.
4 .70
.
5..13
5..65

Euro-Dollar Deposit Rates

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

13-Jul-94 20-Jul-94 27-Jul-94

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

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

4.
, 14
4 .19
,
-0..05

4 .26
4 .38
-0 .12

4 .18
.
4 .30
,
-0..12

4 .13
,
4 .30
,
-0,.17

4 .14
.
4 .28
.
-0.. 14

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

4 . 61
4 .62
.
-0 .01
,

4 .80
4 .78
0 .02

4 .78
.
4 .79
,
-0..02

4 .66
,
4 .66
,
0 .00
,

4.
.70
4.
.69
0..01

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

4 .61
.
4 .67
,
-0..06

4 .80
4 .80
0 .00

4 .78
,
.
4 .85
-0..07

4 .66
,
4.
.69
-0..03

4.
.70
4.
.67
0..03

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

4 .63
,
4 .83
.
-0..20

4 .77
5. 02
-0 .25

4.
.80
4.
.98
-0..18

4.
.71
4 .83
,
-0 .12
,

4.
,72
4.
,91
-0..19

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

4 .61
.
4 .65
,
-0..04

4 .80
4 .78
0 .02

4 .78
.
4.
, 88
-0 .10
,

4 .66
,
4 .71
-0 .05

4 .70
.
4.
.65
0..05

Euro-dollar deposit
Swiss interbank, covered
Differential

4 .61
.
4 .65
,
-0,.04

4
4
0

.80
.75
.05

4 .78
.
4 .82
.
-0..05

4.
.66
4.
.66
-0..00

4.
,70
4.
,64
0. 06

9
7
7
4
5
7
8
7

.24
.57
.00
.28
.20
.08
.61
.33

9 .21
.
7 .50
.
6..89
4 .31
.
5.
.18
6..99
8 .45
.
7 .41
.

8..99
7 .32
.
6 .75
.
4 .31
,
.03
5.
6 .82
.
8 .19
.
7.
.22

9.
.22
7.
.26
6..79
4.
.32
5..01
6..86
.29
8.
,29
7.

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.

Stock Indices

9 .35
.
7 .45
,
6..96
4 .27
.
5..24
7 .06
.
8..54
7 .20
.
(Wednesday figures)

137 .
Canada
.98
134 .
.24
134 . 74
139 .35
154 .
France
151,.95
149 .
.82
.83
159 .83
117 ,
Germany
,71
.15
116 .
120 .37
116 ,
.39
125 ,
Japan
. 11
126 ,
.02
126 .33
125 .94
141 ,
Netherlands
140 ,
.46
.70
141 .95
145 ,85
Switzerland
217 ,
203 ,
.67
.79
216 .64
208 .68
United Kingdom
182 ,
178 ,
178 ,
.88
.97
.30
185 .55
United States
181,.37
182 .
.20
181,.24
183 .56
Indices (in order, rebased to 1986=100) are Toronto Composite, CAC General spliced
at 22dec94, FAZ Aktien, Tokyo SE (Topix), CBS All-General, Swiss Bank Index,
Financial Times Ordinary, NYSE Composite



137 .76
161,.08
121,.42
122 .
.18
147 .
.21
208..47
185 ,
.89
183 ,
.67
to SBF250

FEDERAL RESERVE statistical release
H.10(512)

July 29, 1994

FOREIGN EXCHANGE RATES
FOR THE WEEK ENDING

JULY 29, 1994

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

Jul. 25

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

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

0.7432
11.194
32.770
1.3787
8.6495
6.2440
1.2034
5.2705
5.4340
1.5907
240.59
7.7255
31.370
1.5100
1579.75
98.95
2.5915
3.4045
1.7846
0.6045
6.9345
163.03
1.5093
3.6970
807.10
131.080
48.950
7.8025
1.3500
26.550
24.990
1.5320

0.7433
11.167
32.660
1.3807
8.6464
6.2315
1.2062
5.2365
5.4150
1.5870
239.94
7.7255
31.370
1.5080
1586.75
98.03
2.5937
3.4078
1.7807
0.6045
6.9135
162.24
1.5107
3.6850
805.80
130.480
49.100
7.7775
1.3490
26.609
24.970
1.5244

0.7388
11.086
32.440
1.3797
8.6438
6.1930
1.2131
5.1945
5.3850
1.5755
238.28
7.7255
31.368
1.5130
1585.50
98.18
2.5935
3.4060
1.7682
0.6012
6.8705
161.14
1.5096
3.6690
805.80
129.630
49.050
7.7435
1.3357
26.597
24.960
1.5306

0.7360
11.134
32.580
1.3808
8.6414
6.2190
1.2082
5.2240
5.4075
1.5822
239.45
7.7255
31.370
1.5125
1591.75
99.18
2.5950
3.3980
1.7760
0.6000
6.9005
161.75
1.5104
3.6830
805.60
130.340
49.050
7.7700
1.3410
26.540
24.990
1.5317

0.7389
11.167
32.680
1.3835
8.6397
6.2405
1.2062
5.2350
5.4195
1.5875
239.70
7.7255
31.373
1.5200
1590.00
100.05
2.5945
3.4050
1.7811
0.6015
6.9235
161.13
1.5108
3.6790
805.50
130.510
49.100
7.7840
1.3445
26.581
25.010
1.5415

MEMO:
^UNITED STATES

DOLLAR

89.98

89.83

89.45

89.82

90.01

COUNTRY

(CURRENCY UNITS PER DOLLAR)
Jul. 26
Jul. 27
Jul. 28

Jul. 29

•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.