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1(616/517)
I
H
Selected Interest &
Exchange Rates
Weekly Series of Charts
•
)
August 25,1986
DIVISION OF
INTERNATIONAL FINANCE
Prepared by the
FINANCIAL MARKETS
SECTION
BOARD OF GOVERNORS
FEDERAL* RESERVE SYSTEM
Washington, D C. 20551
t
Table of Contents
TABLES
SUBSCRIPTION RATES:
1. LATEST F I G U R E S P L O T T E D
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, $ 1 3 . 5 0 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
E X C H A N G E RATES-H.10 R E L E A S E
CHARTS
1. SPOT EXCHANGE R A T E INDICES
2. 3-MONTH F O R W A R D E X C H A N G E R A T E S
3. G O L D PRICE- LONDON
4. C A L L MONEY R A T E S
5. 3-MONTH I N T E R E S T R A T E S
6. E U R O DOLLAR DEPOSIT R A T E S
7. S E L E C T E D E U R O - D O L L A R A N D
U.S. MONEY M A R K E T R A T E S
a I N T E R E S T A R B I T R A G E : 3-MONTH F U N D S
9. LONG-TERM G O V E R N M E N T BOND Y I E L D S
10. I N D U S T R I A L STOCK INDICES
CHART 1
SPOT EXCHANGE INDICES
DOLLAR PRICES OF FOREIGN CURRENCIES AND WEIGHTED AVERAGE VALUES (THIN LINE)
AVERAGES FOR WEEK ENDING WEDNESDAY
RATIO
MARCH 197 1=100
CALE
MARCH 1973=100
200
180
50
45
FOREIGN CURRENCY
PRICE OF U.S. DOLLAR
160
40
140
35
120
30
100
l
I
I
11111111111111111
25
200
180
200
180
160
JAPANESE YEN
GERMAN MARK
r
Ar
~~
160
140
140
120
120
100
-
80
I
I
I
I
I
I
80
140
140
120
100
DUTCH GUILDER
CANADIAN DOLLAR
120
100
100
90
90
80
80
70
70
60
I
I
I
I I I I I I I , I I II I , I I
L
1
J
i l l i l l i l l 11 i
60
90
90
80
U.K. POUND
80
FRENCH FRANC
70
70
60
60
50
50
40
40
120
100
240
SWISS FRANC
BELGIAN FRANC
200
90
180
80
160
70
140
60
120
50
100
1984
1986
1984
1986
CHART 2
3-MONTH FORWARD EXCHANGE RATES
PREMIUM (+) OR ( - )
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER A^
:ENT PER ANNUM
4
8
JAPANESE YEN
CANADIAN DOLLAR
0
—
—
A
4
0
4
I
8
4
I
I
I
I
I
4
12
U. K. POUND
SWISS FRANC
+
0
8
4
4
I
8
8
I
I
I
I
0
I
8
DUTCH GUILDER
GERMAN MARK
4
4
0
0
8
8
FRENCH FRANC
ITALIAN LIRA
+
0
S
8
8
16
\
rl
16
24
24
I
32
1984
1986
I
I
JUL
1984
32
1986
CHART 3
PRICE OF GOLD IN LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
U.S. I
.ARS PER FINE OUNCE
U.S. DOLLARS 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
260
J
1983
L
J
I
1984
I
I I I I I I I I I I I I I I I I I I I I I I
1985
1986
260
CHART 4
CALL MONEY RATES
WEEKLY SERES
PERCENT PER At
:NT PER ANNUM
20
20
16
16
FRANCE
U. S. FEDERAL FUNDS
12
12
8
8
4
4
0
0
20
20
16
SWITZERLAND
16
CANADA
12
12
8
8
4
4
0
0
20
20
16
16
UNITED KINGDOM
12
12
GERMANY
8
8
/Www
4
4
NETHERLANDS
0
0
1984
1986
1984
1906
CHART 5
3-MONTH INTEREST RATES
WEEKLY SERIES
NT PER ANNUM
PERCENT PER Ah
14
16
U.S. CD'S
CANADIAN FINANCE CO.
PAPER
12
14
10
8
12
10
WEIGHTED AVERAGE
FOREIGN RATE
6
8
4
6
16
14
IFRENCH INTERBANK RATE
UK. INTERBANK STERLING
14
-
12
12
10
10
8
8
I
I
I
I
I
I
nil Ihill i
11111111111
10
6
10
GERMAN INTERBANK RATE
8
8
6
6
4
4
I
2
I
I
2
8
8
7
SWISS INTERBANK RATE
JAPANESE GENSAKI RATE
6
/ V J I
6
4
2
5
I
4
1984
1986
I
I
0
I I I
1984
1986
CHART 6
EURO-DOLLAR DEPOSIT RATES
LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER AL
ENT 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
_L_L
1984
1
1986
1
1
1
1
1984
1
i i l l i m l ii
1986
6
X
"
'
CHART 7
SELECTED EURO-DOLLAR AND U. S. MONEY MARKET RATES
DEFERENTIAL: PLUS(+), FAVORS BORROWING IN U. S.
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM
PERCENT 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
90-DAY CD' S
OVERNIGHT
E U R O - D O L L A R DEPOSITS
J
I I I I I I
111111111111111111 n 111
J
I
111111111111111111111111
4
2
DIFFERENTIAL
DIFFERENTIAL
/VYV>
V ^ V / y v y V x A v — -~VV>^vXs
1
J
I I 11111111111111111111111
1984
1 PERCENT ON DIFFERENTIAL S C A L E = 2 PERCENT ON RATE SCALE
1986
i
i
i
I
I
1984
I
11111111111
11111111111
1986
0
CHART 8
INTEREST ARBITRAGE: 3-MONTH FUNDS
DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER Ah
NT PER ANNUM
18
14
18
CANADIAN FINANCE
CO. PAPER, COVERED
EURO-DOLLAR DEPOSITS
DASHED LINE
14
10
10
INTERBANK STERLING
6
COVERED LONDON
2
I
2
I
I
I
6
U. S. COMMERCIAL PAPER
I
I
2
DIFFERENTIAL
2
DIFFERENTIAL
+
+
0
2
0
J_L
I
I
l
2
18
14
18
INTERBANK DM
SWISS INTERBANK (SF) COVERED
COVERED FRANKFURT
14
10
6
10
EURO-DOLLAR DEPOSITS
EURO-DOLLAR DEPOSITS
DASHED LINE
6
DASHED LINE
2
2
2
DIFFERENTIAL
2
DIFFERENTIAL
0
0
U
2
1984
1986
PERCENT ON DIFFERENTIAL S C A L E = 2 PERCENT ON RATE SCALE
1984
2
1986
CHART 9
LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
ENT PER ANNUM
PERCENT PER AL
17
15
17
UNITED STATES
CANADA
15
13
13
11
11
9
9
7
7
15
9
13
UNITED KINGDOM
7
SWITZERLAND
11
5
9
3
7
1
10
10
GERMANY
8
8
6
6
4
4
18
18
U. S. CORPORATE
MONTHLY
16
16
IFRANCE
L
14
-
14
12
—
12
-
10
INETHERLANDS
IMONTHLY
10
V
8
I
6
1984
1986
I
I
I I I
1984
I;11 illi,1,11
-
8
6
1986
CHART 10
INDUSTRIAL STOCK INDICES
WEEKLY SERIES
RATIO SCALE
1969=100
RATIO SCALE
1969=100
UNITED STATES
NETHERLANDS
SWITZERLAND
FRANCE
GERMANY
CANADA
L_i_i
1984
1986
1984
1986
LAST VALUE PLOTTED
DATE
VALUE
S E R I E S NAME
CHART 1 .
SPOT EXCHANGE KATES AND I N D I C E S
WEEKLY AVESAGES, NOON BUYING RATES
(U.S.
CENTS)
GERMAN MARK
JAPANESE YEN
DUTCH GUILDER
U . K . POUND
CANADIAN DOLLAR
FRENCH FRANC
SWISS FRANC
BELGIAN FRANC
ITALIAN LIRA
SWEDISH KRONA
I N D I C E S , HARCH 1 9 7 3 BASE RATES =
WEIGHTED AVERAGE EXCHANGE VALUE I N D I C E S ,
{ G - 1 0 COUNTRIES PLUS SWITZERLAND)
CHART 2 .
20
20
20
20
20
20
20
20
20
20
4 8. 53
0. 6 5 0 1 7
43. 07
149. 71
7 1 . 90
1 4 . 90
6 0 . 18
2. 34338
0. 0 7 0 4 7
14. 44
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
20
20
20
20
20
20
20
20
20
136.51
170.24
123.63
6 0 . 55
71.66
6 7 . 16
193.61
9 2 . 34
4 0.03
20
20
20
20
20
20
20
20
20
20
20
107.33
155.09
193.11
1 3 3 . 16
6 1 . 12
7 4 . 14
6 8 . 26
208.95
97.50
39.63
66.71
20
20
20
20
20
20
20
20
-2.44
-3.50
1.6b
-1.15
1.82
0.78
1.40
-5.02
100
GERMAN MARK
JAPANESE YEN
DUTCH GUILDER
U. K. POUND
CANADIAN DOLLAR
FRENCH FRANC
SWISS FRANC
BELGIAN FRANC
ITALIAN LIRA
U . S . DOLLAR
GERMAN HARK
JAPANESE YEN
DUTCH GUILDER
U . K . POUND
CANADIAN DOLLAR
FRENCH FRANC
SWISS FRANC
BELGIAN FRANC
I T A L I A N LI R A
SWEDISH KRONA
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
MAR 1 9 7 3 =
100
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
J-HONTH FORWARD EXCHANGE RATES, PREMIUM OR DISCOUNT
CANADIAN DOLLAR
O . K . POUND
GERMAN MARK
FRENCH FRANC
SWISS FRANC
DUTCH GUILDER
JAPANESE YEN
ITALIAN LIRA
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
LAST VALOE PLOTTED
DATE
VALUE
S E M E S HA HE
CHART 3 .
GOLD PRICE I N LONDON, AFTERNOON F I X I N G
U.S.
AUG. 2 0
380.00
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
20
20
20
20
20
20
20
20
20
6.38
6.23
9 . 90
7.95
4.49
4.55
7 . 09
5.88
1.00
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
20
20
20
20
20
20
20
20
20
5.94
4.56
4.68
8 . 45
9.71
4.22
7.09
5 . 30
6.52
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
20
20
20
20
20
20
6.23
6.30
6 . 18
6 . 04
6.04
6.11
OVERNIGHT EURO-DOLLAR DEPOSITS
U . S . FEDERAL FUNDS
DIFFERENTIAL
AUG. 2 0
AUG. 2 0
AUG. 2 0
6.23
6.38
- 0 . 08
3-HONTH EURO-DOLLAR DEPOSIT RATE
U . S . 90-DAY C D ' S . SECONDARY HARKET
DIFFERENTIAL
AUG. 2 0
AUG. 2 0
AUG. 2 0
6.04
5.94
0 . 10
CHART 4 .
DOLLARS PER F I N E OUNCE
CALL HONEY RATES
U . S . FEDERAL FUNDS
OVERNIGHT EURO-DOLLAR DEPOSITS
U. K.
CANADA
GERHANY
JAPAN
FRANCE
NETHERLANDS
SWITZERLAND
CHART 5 .
3—HON Til I N T E R E S T RATES
U . S . 90-DAY C D ' S * SECONDARY HARKET
GERHAN INTERBANK LOAN
JAPANESE GENSAKI RATE
CANADIAN FINANCE PAPER
INTERBANK STERLING
SWISS INTERBANK LOAN
FRENCH INTERBANK RATE
NETHERLANDS INTERBANK RATE
1EIGHTED AVERAGE FOREIGN I N T E R E S T RATE
( G - 1 0 COUNTRIES PLCS SWITZERLAND)
CHART 6 .
EURO-DOLLAR DEPOSIT RATES: LONDON
OVERNIGHT
7-DAY
1—HONTH
3-HONTH
6r-flONTH
1-YEAR
CHART 7 .
SELECTED EURO-DOLLAR AND U . S .
HONEY BASKET RATES
S E R I E S NAME
CHART 8 .
LAST VALUE PLOTTED
DATE
VALUE
INTEREST ARBITRAGE, J - H O S T H FUNDS
EURO-DOLLAR DEPOSIT
INTERBANK STERLING (LONDON), COVERED
DIFFERENTIAL
AUG. 2 0
AUG. 2 0
AUG. 20
6 . 04
6.13
-0.09
U . S . COflflEBCIAL PAPER
CANADIAN FINANCE PAPER, COVERED
DIFFERENTIAL
AUG. 20
AUG. 20
AUG. 20
5.97
5.96
0.01
EURO-DOLLAR DEPOSIT
INTERBANK Dfl (FRANKFURT), COVERED
DIFFERENTIAL
AUG. 2 0
AUG. 2 0
AUG. 2 0
6.04
6.24
-0.21
EURO-DOLLAR DEPOSIT
SWISS INTERBANK, COVERED
DIFFERENTIAL
AUG. 2 0
AUG. 2 0
AUG. 2 0
6.04
6.07
- 0 . 03
15
15
15
11
8
15
7 . 19
5. 63
4 . 90
4 . 05
9. 33
6 . 42
6. 38
9 . 18
CHART 9 .
LONG TERM GOVEBMENT BOND YIELDS
UNITED STATES
GERMANY
JAPAN (MONTHLY)
SWITZERLAND
CANADA
FRANCE
NETHERLANDS (MONTHLY)
UNITED KINGDOM
U.S.
AUG.
AUG.
AUG.
JULY
AUG.
AUG.
JUNE
AUG.
15
CORPORATE
AAA BONDS
CHART 1 0 .
9.13
STOCK I N D I C E S
UNITED STATES
UNITED KINGDOM
CANADA
GERMANY
SWITZERLAND
NETHERLANDS
FRANCE
JAPAN
JUNE
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
13
13
13
13
13
13
13
13
250.
27 7.
300.
288.
180.
358.
386.
396.
66
23
99
02
05
76
40
45
' " n f Govt/
FEDERAL RESERVE statistical release
H.10 (512)
AUGUST 2 2 ,
1986
FOREIGN EXCHANGE RATES
roe
TUB H££K ENDING
AUGUST 2 2 ,
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:
COUNTBI
*AUSTBALIA
AUSTRIA
BELGIUH
BRAZIL
CABADA
CHIBA#P.B.
DENHARK
FINLAND
FBABCB
GBBHABI
GREECE
HONG KONG
INDIA
•IBBLABD
ITALX
JAPAN
HAL A15 XA
NBTHBBLANDS
*NB* ZEALAND
BOB1AI
PORTUGAL
SIMGAPOBE
•SOUTH AFRICA
SOUTH KOBBA
SPAIN
S B I LAIKA
SSBDBB
SBITZBBLABD
TAIBAB
THAILABO
•UNITED KINGDOB
HBflO:
#UNXTBD STATES
BOBBTABI
m
a#
ai'M •
UBIT
DOLLAB
SCHILLING
FBABC
CBUBADO
DOLLAB
IUAB
KBOBB
HABKKA
FBABC
D. HARK
DEACHHA
DOLLAB
HUP BE
POUND
LIRA
IBB
BINGGIT
GUILDBB
DOLLAB
KBOBB
BSCUDO
DOLLAB
BAND
HON
PESETA
RUPEE
KBOBA
FBABC
DOLLAB
BAHT
POUND
DOLLAB
rifABRMrv
AUG,
18
AUG.
riHTVc
19
DRD n n n i B
AUG. 2 0
AUG. 2 1
AUG. 2 2
62*51
14,570
42.910
13.84
1.3940
3.7129
7.7880
4.9420
6.7425
2.0710
135.100
7.8125
12.5900
134.00
1426.00
154.20
2.5750
2.3330
49.850
7.3585
146.500
2.1550
38.00
886.20
133.800
28.193
6.9500
1.6760
37.240
26.090
149.30
63.00
14.470
42.640
13.84
1.3945
3.7129
7.7455
4.9050
6.6990
2.0585
134.350
7.8065
12.6100
134.75
1417.00
153.50
2.5875
2.3200
50.500
7.3350
145.550
2.1505
38.10
886.30
133.100
28.193
6.9140
1.6600
37.210
26.100
150.15
61.18
14.410
42.410
1 3 . 84
1.3910
3.7129
7. 7245
4.9050
6.6875
2 . 0485
134.200
7.8070
12.5700
1 3 5 . 15
1411.00
1 5 3 . 40
2.6020
2.3090
5 0 . 100
7.3150
145. 250
2.1480
38.35
885.60
132. 700
2 8 . 190
6.8950
1.6475
3 7 . 180
26.070
150.40
61.15
14.360
42.320
13.84
1.3900
3.7129
7.7360
4.8*20
6.6900
2.0425
133.900
7.8050
12.5900
135.40
1410.00
153.25
2.6030
2.3035
48.550
7.3100
145.700
2.1485
38.48
884.70
133.150
28.190
6.8920
1.6455
37.210
26.010
149.81
6 0 . 70
14.380
42.320
13.84
1.3910
3.7129
7.7320
4.8930
6.6990
2.0445
134.000
7.8030
12.5700
134.40
1411.00
153.45
2.6035
2.3055
48.750
7.3150
146.000
2 . 1480
38.35
834.80
U3.400
2 8 . 193
6.8990
1.6505
NA
26.000
148.65
107.78
107.20
1 0 6 . 86
106.77
106.97
nrtDDPM/^Tffc n v
A9HHB C . 1 A
COUBTBIBS. HARCH 1 9 7 3 = 1 0 0 . M I G H T S ABE 1 9 7 2 - 7 6 GLOBAL MADB OF BACH OF THE 10 COUBTBIBS.
SBB1SS RJ3VIS2D AS OF AUGUST 1 9 7 8 . FOB DESCRIPTION AMD BACK DATA, SEE " i J O B I Of THE
BBIGHTBD-AYBBAGB EXCHANGE VALUE OF THE U . S . DOLLAB: REVISION" 0 1 PAGE 7 0 0 OF THE AUGUST
1 9 7 8 FEDERAL 8BSEBWE BULLETIN.
•VALUE I S U . S .
CENTS
@FedFRASER