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(516/517) I i- Selected Interest &. Exchange Rates Weekly Series of Charts August 18,1986 DIVISION OF INTERNATIONAL FINANCE Prepared by t h e FINANCIAL MARKETS SECTION BOARD OF GOVERNORS FEDERAL, RESERVE SYSTEM Washington, D C 20551 k Table of Contents TABLES SUBSCRIPTION RATES: 1. LATEST FIGURES PLOTTED Weekly $15.00 per year or $.40 each in the United States, its possessions, Canada, and Mexico; 10 or more of the same issue to one address, $13.50 per year or $.35 each. Elsewhere, $20.00 per year or $.50 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 in a form collectible at par in U.S. Currency. 2. DAILY C E R T I F I E D 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 R A T E S 5. 3-MONTH INTEREST RATES 6. EURO-DOLLAR DEPOSIT RATES 7. SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES 8. INTEREST A R B I T R A G E : 3-MONTH FUNDS 9. LONG-TERM G O V E R N M E N T BOND YIELDS 10. INDUSTRIAL STOCK INDICES CHART 1 SPOT EXCHANGE INDICES DOLLAR PRICES OF FOREIGN CURRENCIES AND WEIGHTED AVERAGE VALUES (THIN LINE) AVERAGES FOR WEEK ENDING WEDNESDAY :ALE MARCH 200 180 RATIO MARCH 197 1=100 973=100 50 FOREIGN CURRENCY PRICE OF U.S. DOLLAR ITALIAN LIRA 45 160 40 140 35 120 30 100 25 200 180 200 180 160 JAPANESE YEN GERMAN MARK 160 140 140 120 120 100 100 80 80 140 120 140 DUTCH GUILDER CANADIAN DOLLAR 120 100 100 90 90 80 80 70 70 60 60 90 80 90 U.K. POUND 80 FRENCH FRANC 70 70 60 60 50 50 40 40 120 240 100 BELGIAN FRANC SWISS FRANC 200 90 180 80 160 70 140 60 120 100 50 1984 1986 1984 1986 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER Ah ENT PER ANNUM 4 8 JAPANESE YEN CANADIAN DOLLAR 0 — A — 0 4 8 4 4 I I I I | I I | I I | I I4 I 12 U. K. POUND SWISS FRANC + 0 (VS 4 8 8 I GERMAN MARK I I I I , 8 - 4 0 I 8 DUTCH GUILDER 4 4 0 0 8 8 FRENCH FRANC ITALIAN LIRA + 0 0 8 8 16 16 24 24 I 32 1984 1986 I 1984 I 32 1986 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. c U.S. DOLLARS PER FINE .ARS PER FINE OUNCE 520 520 500 500 480 480 460 460 12.5 Kg BARS 440 440 AFTERNOON FIXING PRICE 420 420 400 400 380 380 360 360 340 340 320 320 300 300 280 280 I I I I I I I I I I I 260 1983 1984 1985 I I I I I I I I I 1986 260 CHART 4 CALL MONEY RATES WEEKLY SERIES NT PER ANNUM PERCENT PER M 20 20 16 16 FRANCE U. S. FEDERAL FUNDS 12 12 8 8 4 4 JAPAN 0 1 1 1 I I I I I I 0 I 20 16 20 SWITZERLAND 16 CANADA 12 A ~ /\l l__l \^\ 8 JV 4 8 4 I 0 I I I I 0 I 20 16 12 20 16 UNITED KINGDOM 12 12 GERMANY 8 8 VWwv 4 0 I 4 NETHERLANDS I 1984 I I II 1986 0 1984 1986 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES NT PER ANNUM PERCENT PER AN 14 16 U . S . CD'S CANADIAN FINANCE CO. PAPER 12 14 10 JL 8 - 12 10 WEIGHTED AVERAGE FOREIGN RATE 6 - I 4 I I I I I 8 6 IIIIIIIIIII 16 14 IFRENCH INTERBANK RATE U.K. INTERBANK STERLING 14 - 12 12 10 10 1 8 I I I I I I I I I I I - 8 — 10 6 I 10 NETHERLANDS INTERBANK RATE GERMAN INTERBANK RATE 8 8 6 6 4 - I 2 I I I I I lull 1 1 1 1 1 1 2 8 8 JAPANESE GENSAKI RATE 7 / \i SWISS INTERBANK RATE - A 6 \ 5 4 4 1 1 1 1 1 1984 , , Z v A X 6 . V s 1 1986 4 2 - 1 " 1 1 I I I 1984 0 1986 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY PER PERCENT PER Af :NT PER ANNUM 16 16 3-MONTH OVERNIGHT 14 14 12 12 10 10 8 8 6 6 16 16 6-MONTH 7-DAY 14 14 12 12 10 10 8 8 6 6 16 16 1-MONTH 1-YEAR 14 14 12 12 10 10 8 8 6 6 1984 1986 1984 1986 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 Al NT PER ANNUM 16 16 14 14 FEDERAL FUNDS 3-MONTH DASHED LINE E U R O - D O L L A R DEPOSITS 12 12 10 10 8 8 90-DAY CD S OVERNIGHT E U R O - D O L L A R DEPOSITS 6 6 I 4 I I M I I I I M I I I I I I ll I I I I I I I I I I I I I I I I I 4 2 2 DIFFERENTIAL DIFFERENTIAL 1 1 '~vVV>AAV<v< i 0 l 1 l l 111111111111111111111111 1984 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE 1986 i i i 11111111111 1984 111111111 M 1986 + 0 1 CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PERC r r PER ANNUM PERCENT PER AN 18 18 CANADIAN FINANCE CO. PAPER, COVERED EURO-DOLLAR DEPOSITS 14 DASHED LINE 14 10 10 INTERBANK STERLING COVERED LONDON 6 6 U. S. COMMERCIAL PAPER 2 2 2 2 DIFFERENTIAL DIFFERENTIAL 40 + 0 I 2 I I I I I 2 18 18 INTERBANK DM 14 SWISS INTERBANK (SF) COVERED COVERED FRANKFURT 14 10 10 6 EURO-DOLLAR DEPOSITS EURO-DOLLAR DEPOSITS DASHED LINE DASHED LINE 1 2 1 I I I III 1 I I 6 2 III I I 2 2 DIFFERENTIAL DIFFERENTIAL + 0 0 2 1 I 1 I I 1984 2 1986 1 P E R C E N T ON D I F F E R E N T I A L S C A L E = 2 P E R C E N T ON RATE S C A L E 1984 1986 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES NT PER ANNUM PERCENT PER AN 17 17 UNITED STATES 15 __ CANADA — 15 13 13 11 11 9 9 - I 7 I I 7 15 9 13 11 9 — UNITED KINGDOM v: Vv 7 i i 7 SWITZERLAND i 5 3 1 1 1 1 10 10 GERMANY 8 _ JAPAN 8 - 6 6 4 I I I I I I I I I I I I I I I I I I I I Ml I I I I I I I I I I I I 4 18 18 U. S. CORPORATE MONTHLY 16 , 16 FRANCE Aaa BONDS 14 - 14 12 — 12 INETHERLANDS iMONTHLY 10 10 8 8 I 6 1984 1986 I I I I 1984 I n m t r r l 11111 1986 6 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERES RATIO SCALE RATIO SCALE 1969=100 1969=100 350 — 300 — 350 - 300 - 250 h_ UNITED KINGDOM UNITED STATES 200 250 / / 200 ~ 150 - — I 100 350 — 300 - 250 - I I ^ i i i i ~z , i I I iiliilnlii I — - r i — 4 — - r NETHERLANDS SWITZERLAND v - 210 - 175 /*/ 140 150 - 100 r 450 400 — 350 - 300 - 250 - J I I I i i i I —— A - / I J - - - I I I I I - - ~~ - - - - - 100 — A A A r i 300 - 250 - / / - I - 200 z"' i I I Mini.>h. M — I I I I I 111111111. i ,, 1986 1984 150 100 CANADA 1984 450 400 350 V , FRANCE i 105 70 — GERMANY 150 100 245 200 200 150 1986 SEBIES CHABT 1. SPOT L A S T VALUE P L O T T E D DATE VALUE NAME EXCHANGE B A T E S AND I N D I C E S WEEKLY A V E R A G E S , NOON BUYING B A T E S (U.S. CENTS) GERMAN MABK J A P A N E S E YEN DUTCH G U I L D E B U . K . POUND CANADIAN DOLLAB FRENCH FRANC S W I S S FBANC B E L G I A N FBANC ITALIAN LIBA S W E D I S H KBONA INDICES, MARCH 1 9 7 3 BASE BATES = WEIGHTED AVERAGE EXCHANGE VALUE I N D I C E S , ( G - 1 0 COUNTBI.&S P L U S S W I T Z E B L A N D ) U . S . DOLLAB GERMAN HABK J A P A N E S E YEN DUTCH G U I L D E B U . K . POUND CANADIAN DOLLAB FRENCH FRANC S W I S S FBANC B E L G I A N FRANC ITALIAN LIRA S W E D I S H KBONA 3 - M O N T H FOBWARD EXCHANGE B A T E S , CANADIAN DOLLAB U. K . POUND GERMAN MARK FRENCH FBANC S W I S S FBANC DUTCH G U I L D E B J A P A N E S E YEN ITALIAN LIBA 13 13 13 13 13 13 13 13 13 13 48.32 0.64875 42.89 1 4 8 . 11 72.13 14.88 59.95 2.33363 0.07024 14.39 AUG. AUG. AUG. AUG. AUG. AUG. AUG. AUG. AUG. 13 13 13 13 13 13 13 13 13 135. 169. 123. 59. 71. 67. 192. 91. 39. 13 13 13 13 13 13 13 13 13 13 13 107.71 154.84 193.24 132.99 6 0 . 59 74.63 68.34 208.74 97. 36 39.61 66.64 13 13 13 13 13 13 13 13 - 2 . 30 -3.43 1. 80 -0.84 1-93 0.87 1.60 -4.65 100 GERMAN MARK J A P A N E S E YEN DUTCH G U I L D E B U . K . POUND CANADIAN DOLLAB FRENCH FBANC S W I S S FRANC B E L G I A N FRANC ITALIAN LIRA CHABT 2 . AUG. AUG. AUG. AUG. AUG. AUG. AUG. AUG. AUG. AUG. MAB 1 9 7 3 = 94 86 14 91 89 03 87 96 90 100 AUG. AUG. AUG. AUG. AUG.. AUG. AUG. AUG. AUG. AUG. AUG. PREMIUM OB D I S C O U N T AUG. AUG. AUG. AUG. AUG. AUG. AUG. AUG. SERIES CHART 3 . GOLD P R I C E U.S. 4. L A S T VALUE PLOTTED DATE VALUE NAME I N LONDON, DOLLARS P E R F I S E AFTERNOON F I X I N G OUNCE AUG. 13 3 7 8 . 12 AUG. AUG. AUG. AUG. AUG. AUG. AUG. AUG. AUG. 13 13 13 u 13 13 13 13 13 6.31 6.32 9. 8 0 8.25 4.44 4.60 7. 06 5. 83 1.00 AUG. AUG. AUG. AUG. AUG. AUG. AUG. AUG. AUG. 13 13 13 13 13 13 13 13 13 6 . 12 4.60 4.67 8.55 9.84 4.42 7 . 13 5.41 6.58 AUG. AUG. AUG. AUG. AUG. AUG. 13 13 13 13 13 13 6. 32 6. 35 6.33 6.26 6.26 6.38 CALL MONEY R A T E S U . S . FEDERAL FUNDS O V E R N I G H T EURO-DOLLAR D E P O S I T S U. K. CANADA GERMANY JAPAN FRANCE NETHERLANDS SWITZERLAND CHART 5 . 3—MONTH I N T E R E S T R A T E S U . S . 9 0 - D A Y C D ' S , SECONDARY MARKET GERMAN INTERBANK LOAN J A P A N E S E G E N S A K I RATE CANADIAN F I N A N C E P A P E R INTERBANK S T E R L I N G S W I S S I N T E R B A N K LOAN FRENCH INTERBANK RATE NETHERLANDS INTERBANK RATE WEIGHTED AVERAGE F O R E I G N I N T E R E S T RATE ( G - 1 0 COUNTRIES P L U S SWITZERLAND) CHART 6 . EURO-DOLLAR D E P O S I T R A T E S : LONDON OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAR CHART 7 . S E L E C T E D EURO-DOLLAR AND U . S . MONEY MARKET R A T E S OVERNIGHT EURO-DOLLAR D E P O S I T S U . S . FEDERAL FUNDS DIFFERENTIAL AUG. AUG. AUG. 13 13 13 6. 32 6.31 0 . 02 3 - M O N T H EURO-DOLLAR D E P O S I T RATE U . S . 9 0 - D A Y C D ' S , SECONDARY MARKET DIFFERENTIAL AUG. AUG. AUG. 13 13 13 6. 26 6 . 12 0 . 14 SERIES CHART 8 . INTEREST L A S T VALUE PLOTTED DATE VALUE NAME ARBITRAGE, 3-MONTH FUNDS EURO-DOLLAR D E P O S I T INTERBANK S T E R L I N G ( L O N D O N ) , DIFFERENTIAL U . S . COMMERCIAL P A P E R CANADIAN F I N A N C E P A P E R , DIFFERENTIAL COVERED COVERED EURO-DOLLAR D E P O S I T INTERBANK DM ( F R A N K F U R T ) , DIFFERENTIAL COVERED EURO-DOLLAR D E P O S I T S W I S S I N T E R B A N K , COVERED DIFFERENTIAL CHART 9 . 13 13 13 6. 26 6 . 32 - 0 . Ob AUG. AUG. AUG. 13 13 13 6 . 13 6 . 20 - 0 . 07 AUG. AUG. AUG. 13 13 13 6. 26 6. 42 - 0 . 16 AUG. AUG. AUG. 13 13 13 6. 26 6. 37 - 0 . 11 AUG. AUG. AUG. JULY AUG. AUG. JUNE AUG. 8 8 8 11 1 1 7.39 5.64 4.91 4.05 9.36 8.50 6.38 9.24 LONG TEEM GOVEBMENT BOND Y I E L D S UNITED STATES GERMAN! JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS (MONTHLY) U N I T E D KINGDOM . AUG. AUG. AUG. 8 CORPORATE AAA BONDS JUNE 9.13 s CHART 10. STOCK I N D I C E S UNITED STATES U N I T E D KINGDOM CANADA GERMANY SWITZERLAND NETHERLANDS FRANCE JAPAN AUG. AUG. AUG. AUG. AUG. AUG. AUG. AUG. 6 6 6 6 6 6 6 6 241. 88 271. 23 2 9 4 . 68 270. 20 168. 96 346.26 3 7 9 . 15 3 7 5 . 96 FEDERAL RESERVE statistical release H.10 (512) AUGUST 1 8 , 1986 FOREIGN EXCHANGE RATES FOE THE MEEK ENDING AUGUST 1 5 , 1986 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 •AUSTRALIA AUSTRIA BELGIUM BRAZIL CANADA CHINA,P.ft. DENMARK FINLAND FRANCE GERflANI GREECE HONG KONG INDIA •IRELAND ITALY JAPAN HALAYS IA NETHERLANDS •NE8 ZEALAND NORWAY PORTUGAL SINGAPORE •SOUTH AFRICA SOUTH KOREA SPAIN S R I LANKA SSEDBN SWITZERLAND TAIWAN THAILAND •UNITED KINGDOM RAND WON PESETA RUPEE KRONA FRANC DOLLAR BAHT POUND MEMO: •UNITED STATES DOLLAR DOLLAR SCHILLING FRANC CRUZADO DOLLAR YUAN KRONE MARKKA FRANC D. MARK DRACHMA DOLLAR RUPEE POUND LIRA YEN RINGGIT GUILDER DOLLAft KRONE ESCUDO DOLLAR AUG, 11 60. , 6 8 14. 4 9 0 42. .690 13. 8 4 1, 3 8 5 8 3. 7129 7. 7 2 4 0 4, 9 2 7 0 6. > 9 0 0 2, 0 6 1 0 134. 200 7, 7 9 7 0 12. 5 4 0 0 134. 52 1 4 1 7 . 00 153. 77 2. 6 1 6 5 2. 3 2 1 0 4 9 . 500 7. 3 6 0 0 145, 850 2. 1 5 3 5 3 8 . 70 8 8 7 . 80 1 3 3 . 800 28. 193 6. 9 3 9 0 1. 6 5 5 5 37. 540 26. 0 9 0 148. 57 107.33 (CURRENCY UNITS PER DOLLAR AUG. 12 AUG. 1 3 60. 8 3 14. 5 8 9 43. 0 5 0 13. 8 4 1. 3 9 0 0 3. 7129 7. 7845 4. 9390 6. 7 5 2 0 2. 0 7 8 3 135. 5 5 0 7. 7 9 4 5 12. 5 5 0 0 133. 70 1429. 00 154. 70 2m 6 2 1 0 2m 3 3 9 5 49. 550 7. 3930 146. 750 2. 1 6 3 5 37. 90 8 8 7 . 20 134. 600 28. 188 6. 9 6 0 5 1. 6 7 8 5 37. 490 26. 0 9 0 148. 45 108.05 61.36 14.560 42.850 13.84 1.3885 3.7129 7.7565 4.9480 6. 7380 2.0705 134.950 7.7975 12.5800 133.90 1425.00 154.30 2.6175 2.3335 5 0 . 150 7. 3800 146. 200 2 . 1595 3 8 . 15 887.60 134.250 2 8 . 193 6.9485 1.6708 37.440 26. 110 1 4 8 . 60 107.77 AUG. 14 62. 1 3 14, , 5 1 0 42, , 6 9 0 13. 8 4 1. 3 6 5 6 3, 7 1 2 9 7. 7 6 5 0 4, 9 3 5 0 6. , 7 1 0 0 2. 0 6 2 5 1 3 4 . 600 7. 7 7 5 0 12. 5 7 0 0 134. 3 0 1421. 00 153. 73 2. 6 7 0 0 2. 3 2 4 2 50. 150 7. 3630 146. 050 2. 1620 38. 2 5 886. 80 133. 900 28. 1 8 8 6. 9 3 2 0 1. 6 6 1 5 37. 390 26. 0 9 0 149. 30 107.36 AUG. 15 62, ,33 14. ,500 4 2 . 720 13. 84 L 3892 3 . 7129 7. 7 4 8 5 4. 9 3 6 0 6. 71 10 2. 0 6 3 0 134. 800 7. 7 * 8 0 12. 5 5 0 0 134. 50 1 4 2 0 . 00 154. 20 2. 6 1 5 0 2. 3 2 4 0 49. 500 7. 3415 146. 300 2. 1560 3 8 . 35 886. 80 1 3 3 . 600 28. 188 6. 9 3 5 0 1. 6 6 3 5 3 7. 3 4 0 26. 080 1 4 9 . 40 1 0 7 . 44 •INDEX UF WEIGHTED AVERAGE EXCHANGE VALUE OF U . S . DOLLAR AGAINST CURRENCIES OF 0TBE& 6 - 1 0 COUNTRIES. MARCH 1 9 7 3 = 1 0 0 . WEIGHTS ARE 1 9 7 2 - 7 6 GLOBAL TRADE OF EACH OF THJB 10 COUNTRIES. SERIES REVISED AS OF AUGUST 1 9 7 8 . FOR DESCRIPTION AND BACK DATA, SEE "I&DEX OF THE WEIGHTED-AVERAGE EXCHANGE VALUE OF THE U . S . DOLLAR: REVISION" ON PAGE 7 0 0 OF THE AUGUST 1 9 7 8 FEDERAL RESERVE BULLETIN. •VALUE I S O . S . CENTS
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