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(516/517) Selected Interest & Exchange Rates W eekly Series o f Charts August 20,2001 DIVISION OF INTERNATIONAL FINANCE Prepared by the BOARD OF GOVERNORS FINANCIAL MARKETS FEDERAL RESERVE SYSTEM SECTION Washington, D.C. 20551 Table o f Contents TABLES 1. LATEST FIGURES PLOTTED 2. DAILY CERTIFIED SPOT EXCHANGE RATES CHARTS 1. NOMINAL CURRENCY EXCHANGE VALUES 2. 3-MONTH FORWARD EXCHANGE RATES 3. PRICE OF GOLD IN LONDON 4. OVERNIGHT FUNDING RATES AND OFFICIAL INTEREST RATES 5. 3-MONTH INTEREST RATES 6. LONG-TERM GOVERNMENT BOND YIELDS 7. STOCK INDEXES 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 Board of Governors of the Federal Reserve System in a form collectible at Par in U.S. currency. Chart 1 Nominal Currency Exchange Values Dollar prices of foreign currencies and weighted average values of U.S. dollar (Averages for week ending Wednesday, ratio scale, March 1973 = 100) Chart 2 3-Month Forward Exchange Rates Premium (+) or (-) (Averages for week ending Wednesday, percent per annum) 1 German mark and euro U.K. pound 0 -1 -2 -3 1998 8 Canada Japanese yen 6 4 2 Swiss franc 2 Australian dollar 1 0 -1 -2 Chart 3 Price of Gold in London (Averages for week ending Wednesday) u.s. dollars per fine ounce U.S. dollars per fine oi 420 420 400 12.5 Kg Bars 400 Afternoon fixing price 380 380 360 360 340 340 320 320 300 300 280 280 260 260 240 1996 1997 1998 1999 2000 2001 240 Chart 4 Interbank Funding Rates and Official Interest Rates (Averages for w eek ending Wednesday, percent per annum) Chart 5 3-Month Interest Rates (Averages for week ending Wednesday, percent per annum) 6 German/euro-area interbank 4 U.S. CD — \ 2 0 6 Canadian finance paper Japanese CD 4 2 0 6 U.K. interbank sterling Swiss interbank 4 2 0 6 Australian bank bill Swedish treasury bill 4 2 0 Chart 6 Long-Term Government Bond Yields (Averages for week ending Wednesday, percent per annum) 8 United States Germany 6 4 Weighted average foreign rate 2 0 8 Canada 6 4 2 0 8 United Kingdom France 6 4 2 0 8 Switzerland 6 4 2 0 Chart 7 Stock Indexes (Averages for week ending Wednesday, ratio scale, December 3 0 ,1 9 9 4 = 100) 150 - 100 - ______ i________ i_________i______ 1998 1999 20 00 2001 'December 2 9 ,199 4 = 1 0 0 18-Jul-01 25-Jul-01 1-Aug-01 Chart 1. 8-Aug-01 15-Aug-01 Nominal Currency Exchange Values Noon buying rates (U.S. cents, weekly averages) Australian dollar Canadian dollar Japanese yen Restated German mark and euro Swedish krona Swiss franc U .K . pound 50.8180 65.081 0.80190 85.71 9.2912 56.713 140.54 50.8260 64.866 0.80869 87.26 9.3792 57.943 142.34 50.8800 65.223 0.80367 87.62 9.4322 58.008 142.73 51.7440 65.169 0.80899 88.02 9.5919 58.409 142.08 51.7420 65.026 0.82111 89.90 9.7566 59.365 142.74 35.97 64.87 209.96 123.28 41.15 182.45 56.84 35.97 64.65 211.74 125.50 41.53 186.41 57.57 36.01 65.01 210.43 126.02 41.77 186.62 57.73 36.62 64.95 211.82 126.60 42.48 187.91 57.47 36.62 64.81 214.99 129.30 43.21 190.99 57.73 -1.33 -0.56 -0.83 3.71 0.54 -1.50 -1.38 -0.52 -0.81 3.67 0.51 -1.52 -1.35 -0.53 -0.83 3.64 0.48 -1.33 -1.40 -0.53 -0.84 3.56 0.44 -1.36 269.17 266.64 266.98 274.25 Indexes, March 1973 base rates = 100 Australian dollar Canadian dollar Japanese yen Restated German mark and euro Swedish krona Swiss franc U .K . pound Chart 2. 3-Month Forward Exchange Rates, Premium or Discount Australian dollar Canadian dollar Euro Japanese yen Swiss franc U .K . pound Chart 3. Gold Price in London, Afternoon Fixing U.S. dollars per fine ounce Chart 4. -1.28 -0.59 -0.79 3.75 0.55 -1.44 267.41 Interbank Funding Rates and Official Interest Rates United States Target federal funds rate Effective federal funds Discount rate Canada Bank rate Call money Lower bound Euro area Marginal lending rate Eonia Repo rate Overnight deposit rate Japan Call money Discount rate Switzerland* Upper bound Libor rate Lower bound United Kingdom Call money Repo rate 3.75 3.76 3.25 3.75 3.81 3.25 3.75 3.79 3.25 3.75 3.70 3.25 3.75 3.75 3.25 4.50 4.43 4.00 4.50 4.24 4.00 4.50 4.24 4.00 4.50 4.25 4.00 4.50 4.23 4.00 5.50 4.52 4.50 3.50 5.50 4.44 4.50 3.50 5.50 4.53 4.50 3.50 5.50 4.52 4.50 3.50 5.50 4.51 4.50 3.50 0.01 0.25 0.01 0.25 0.01 0.25 0.01 0.25 0.01 0.25 3.75 3.24 2.75 3.75 3.21 2.75 3.75 3.20 2.75 3.75 3.19 2.75 3.75 3.16 2.75 4.67 5.25 4.84 5.25 5.66 5.25 5.23 5.00 4.11 5.00 *In January 2000, the Swiss National Bank began to target the Swiss Franc 3-month LIBOR interest rate, with the aim of keeping this rate inside a range given by an upper and a lower bound. 18-Jul-01 25-Jul-01 1 -Aug-01 Chart 5. 3.61 3.57 3.68 3.60 5.09 5.11 5.09 5.10 4.33 4.26 4.18 4.23 4.47 4.48 4.45 4.43 0.03 0.04 0.04 0.03 4.46 4.44 4.48 4.43 3.14 3.11 3.12 3.09 5.14 5.15 5.15 4.92 3.23 3.26 3.22 3.18 Switzerland, Australia, and Sweden) 3.49 5.07 4.11 4.37 0.03 4.41 3.05 4.84 3.13 Long Term Government Bellwether Bond Yields 10-year maturity, where available Canada 5.84 5.72 5.68 5.73 5.10 France 5.19 5.04 5.02 4.97 Germany 5.05 4.92 4.91 5.37 Italy 5.46 5.30 5.30 1.38 Japan 1.38 1.33 1.33 3.43 3.42 Switzerland 3.40 3.36 5.08 United Kingdom 5.13 5.03 5.01 5.15 United States 5.22 5.12 5.15 4.78 4.72 4.67 Weighted average foreign interest rate 4.69 (Canada, euro area, Japan, United Kingdom, Switzerland, Australia, and Sweden) Chart 7. 15-Aug-01 3 -Month Interest Rates U.S. 90-day CD's, secondary market Australian bank bill Canadian finance paper Euro-area interbank Japanese CD Swedish treasury bill Swiss interbank U.K. interbank sterling Weighted average foreign interest rate Chart 6. 8-Aug-01 5.55 4.94 4.83 5.21 1.31 3.29 4.86 4.99 4.57 Stock Indexes (Wednesday figures) Canada France Germany Euro area* Italy Japan Switzerland** United Kingdom United States 180.85 251.33 223.59 333.41 245.98 76.95 275.29 125.51 245.29 180.93 246.64 219.86 329.32 247.64 76.27 268.23 120.59 241.62 183.72 262.04 228.30 334.97 254.68 77.41 276.73 128.82 245.94 181.65 256.76 221.30 337.27 254.73 78.12 275.22 125.69 240.86 178.77 254.05 217.26 326.42 251.36 76.60 271.62 124.30 241.45 Indices (in order, rebased to December 30, 1994, **December 29, 1994) are Toronto Composil SBF250, FAZ Aktien, *Dow Jones EURO stock index, Banca Italiana General, Tokyo SE (Topix), Swiss Performance Index, Financial Times Ordinary, NYSE Composite
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