Full text of H.13 Selected Interest and Exchange Rates, Weekly Series of Charts : August 28, 1995

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(516/517)

.

Selected Interest &
Exchange Rates
Weekly Series of Charts

August 28, 1995

DIVISION OF
INTERNATIONAL FINANCE

Prepared by the

BOARD OF GOVERNORS

FINANCIAL MARKETS
SECTION

FEDERAL RESERVE SYSTEM




Washington, D C. 20551

Table of Contents

TABLES
1. LATEST FIGURES PLOTTED
2. DAILY CERTIFIED SPOT
EXCHANGE RATES
CHARTS
1. SPOT EXCHANGE RATES 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
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 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

120

150

FOREIGN CURRENCY
PRICE OF U.S. DOLLAR

100
80

RATIO SCALE
MARCH 1973=100

BELGIAN FRANC
130

——

110

l

i

i

i

I

'

i

i

I i

i

•

I

•

I I I

I I

I I I

I I « I I

90
390

JAPANESE YEN

SWISS FRANC

I I I I I » I I I » '

I I I I

CANADIAN DOLLAR
U.K. POUND

GERMAN MARK

DUTCH GUILDER

—

95

:/

FRENCH FRANC

ITALIAN LIRA

—

—

, / v a
V

35

75

55

1 1




1

I

1

1 1
1993

I

1

1

1 I

1

1 1
1995

1

1 1

1

1 1 1
1993

1

1

1 i

I

i

i
1995

i

15

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

CANADIAN DOLLAR

JAPANESE YEN

SWISS FRANC

DUTCH GU LDER

FRENCH FRANC

ITALIAN LIRA

•

•

•




i

•

« •
1993

i

•

'

i

i

i

i
1995

i
1992

1994

CHART 3

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

U.S. DOLLARS PER FINE OUNCE

420 i

1 420

12.5 Kg BARS
AFTERNOON FIXING PRICE

400

400

380

380

360

360

340

320

340

J — i — i — I — i — i — i — I
1991
1992




i

i
1993

i

I

i

i
1994

i

i

J

I
1995

L

320

CHART 4

CALL MONEY RATES
WEEKLY SERIES
PERCENT PER ANNUM

PERCENT PER ANNUM

SWITZERLAND
U.S. FEDERAL FUNDS

JAPAN

0

2

8

—

NETHERLANDS

GERMANY

2

2
16

14

FRANCE

12
CANADA

10

8
6
4

UNITED KINGDOM

2




1993

—

1995

1993

1995

4

CHART 5

3-MONTH INTEREST RATES
WEEKLY SERIES
PERCENT PER ANr

ENT PER ANNUM

9

10
CANADIAN FINANCE PAPER

8

WEIGHTED AVERAGE
FOREIGN RATE

7

6
5
4

2

U.S. CD'S

•

'

'

I i

'

I > I '

I I I I

i

i

i

I i

i

i I

i

i

i

I i

i i

12

3
11

NETHERLANDS INTERBANK RATE
9

10
U.K. INTERBANK STERLING

8

7

6

5

4
7

'

'

'

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
13

11
5

FRENCH INTERBANK RATE

JAPANESE CD RATE

9
3
7

1
10

i

i

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'

'

I i

i

i

I

i

'

i

'

I i

i

i

i

I '

i

i

5

11
GERMAN INTERBANK RATE
9

8
SWISS INTERBANK

6

7

4

5

2

i

i

i

I i




i
1993

'

l

» '

'

l

'

'
1995

'

i

i I

i

i
1993

i

I

i

i

i

I

i i
1995

i

3

CHART 6

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

PERCENT PER ANNUM

•8

8 i —

3-MONTH

OVERNIGHT

1

I I I I I I

1

I

1

» I I I I

I I I 1 I

1

1

1

I '

1

I '

1

• •2
8

8 r—

6-MONTH

7-DAY

6 —

I

I

I 1

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I

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I

I I

i




i

i
1993

i

i

i

i

i

• • i

1-YEAR

1-MONTH

• '

•

I i

» i

I i

i
1995

i

1

1

1

I

1

1

1

"

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 ANNL

;ENT PER ANNUM

7

M*

6

5
3-MONTH
EURO-DOLLAR DEPOSITS

OVERNIGHT
EURO-DOLLAR

4

3

90-DAY CD'S
DASHED LINE

FEDERAL FUNDS
DASHED LINE

2

•

•

•

I

I

1

'

'

1

1

1

'

1

1

•

i

i

I

I

'

I

I

I

I

I—I—I—I—L

1

DIFFERENTIAL

DIFFERENTIAL
+

, mAn.A

0

1

•

i




«

I

'

I
I
1993

I

I—I—I—I—1—1—L
1995

n <V

I

i

I
I
1993

— 'u My

I

I

I—I—I—I—I—L
1995

CHART 8

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

PERCENT PER ANNl

7

CANADIAN FINANCE
CO. PAPER, COVERED

INTERBANK STERLING
COVERED LONDON

6

5

4

U.S. COMMERCIAL PAPER
DASHED

EURO-DOLLAR DEPOSITS
DASHED LINE

3

' ' 1 1 1 '

2

'

I

'

'

'

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I

I

I

I

I

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'

'

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i

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I I

1

DIFFERENTIAL

DIFFERENTIAL

+

0

1

I I I I I

I I

I I

I I I- I I I

'

'

'

I I

'

'

7

INTERBANK DM

6

COVERED FRANKFURT

SWISS INTERBANK (SF) COVERED

5

EURO-DOLLAR DEPOSITS
4

l\

EURO-DOLLAR DEPOSITS

DASHED LINE

DASHED LINE

uS

3

2

'

i

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•

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I I I I < I

1
DIFFERENTIAL

DIFFERENTIAL

+

t-Aw,

0

1

'

•

I




'

I
1993

'

I '

'

' I

I '
1995

I

I

I I I

I

•
1993

1995

CHART 9

LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
PERCENT PER ANNUM
11

PERCENT PER ANNUM
9

UNITED KINGDOM

UNITED STATES

10
8 —

5

•

i

'

I

i

i

i

l

i

i

i

I i

i

i
10

10

FRANCE

CANADA

I

'

I I

1

I

1

I

1

1

1

I '

1

1

I

I I I I

I I I

I I I I I I I

JAPAN

SWITZERLAND

•

i

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'

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'

I i

» i

I I I I •

I '

•

'

I » •

GERMANY

NETHERLANDS

7 —

'

I '




I '

I '
1993

1 I I I 1 I I I
1995

'

1993

1995

'

CHART 10

STOCK INDICES
WEEKLY SERIES
RATIO SCALE
1986=100

RATIO SCALE
1986=100

230
UNITED STATES

210

UNITED KINGDOM

SWITZERLAND

—

190

—

170

JAPAN

I
GERMANY

I

I

I

»

I

I

I

I

I

I

I

I I

I

I

I

I

I

I

I

I

•

I

• • •

CANADA

I
FRANCE

I

I

NETHERLANDS

130 —

110




1993

1995

1993

1995

100

26-Jul-95 2-Aug-95
Chart 1.

9-Aug-95

16-Aug-95 23-Aug-95

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

3.5076
73.572
20.764
72.119
0.06238
1.13718
64.406
86.662
159.44

3.5079
73.332
20.879
72.182
0.06297
1.12699
64.403
86.987
159.87

3.4693
73.643
20.689
71.364
0.06332
1.09570
63.666
86.252
160.34

3.3576
73.531
20.083
69.067
0.06215
1.05375
61.662
83.157
156.94

3.2915
73.597
19.753
67.673
0.06165
1.03185
60.448
81.633
153.90

138..23
73 .
.09
94 .
.09
203 ..05
36..14
295..08
184 ..89
279 .,85
64 .,66

136..71
73..40
93 ..23
200.,75
36.,34
286.,89
182 ..77
277 .,48
64 .,85

132..30
73..29
90..50
194 ..29
35.,68
275.,91
177 .,02
267.,53
63 .48

129 .70
73 .35
89 .01
190 .37
35 .39
270 .17
173 ,
.53
262 .63
62 .25

118 .,48
60. 83
78.,06
191.,88
28.,24
274 .54
161. 99
52 .41
244 .37
52 .42
82 .43

117 .,06
62 .,15
77 .,33
189 .,28
28 .,33
269. 13
160. 15
52 .67
240. 57
52 .42
84 .71

116 .22
63 .08
77 .02
187 .62
28 .47
266 .75
158,.98
.47
52 .
239..23
52,.04
86 .11

-0. 92
-0. 24
1. 37
-4 .86
5. 29
1. 75
3 .22
-0. 96

-0. 81
-0. 10
1. 47
-4 .64
5. 23
1. 77
3 .16
-0. 91

-0. 68
-0. 12
1. 44
-4 .43
5. 18
1. 78
3 .00
-0. 93

-0,.63
0..01
1..48
-4 .32
,
5..21
1..88
3..03
-0..86

386..43

383 .51

384 .20

383 .89

384 ..07

5..75
5.
.74
6..46
6..55
4.
.38
0..81
3..91
2.
.73
6..40

5. 83
5. 69
6. 56
6. 38
4 .63
0. 80
4 .04
2. 73
6. 63

5. 73
5 .69
6. 59
6. 18
4 .36
0. 84
4 .04
3. 06
6. 34

5. 74
5. 75
6. 35
6. 08
4 .42
0. 96
4 .04
3. 21
6. 45

5..70
5..73
6.,34
5..93
4.
.22
0..84
4.
.00
3..03
6..10

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

138
73
93
202
35
297
184
278
64

.22
.33
.57
.88
.80
.75
.90
.80
.49

i, Mar. 19731 = 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 Rate

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

119 .,05
60..13
78.,29
193 .,01
27 .,88
281.,28
162 .,86
52 .24
244 .88
51. 88
81. 75

Premium or Discount
-0,.76
-0,.41
1..36
-4 .89
.
5..22
1..78
.23
3.
-0..90

Gold Price in London, Afternoon Fixing

U.S. dollars per fine ounce
Chart 4.

119 .14
60 .39
77 .88
192 .99
27 .62
284 ,
.38
163 ,
.00
51,.87
244 ,
.13
51 .77
81,.83

Call Money Rates

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




ll -95 2 -Aug-95
Chart 5.

5 .75
6 .84
6 .03
4 .45
0 .75
4 .09
2 .59
6 .78
4 .33

5 .75
6 .73
5 .85
4 .41
0 .78
4 .08
2 .70
6 .78
4 .32

5 .78
6 .67
5 .90
,
4 .40
.
0 .84
.
4.
.05
2.
.80
6 .73
.
4.
.35

5 .78
6 .52
5 .80
4 .39
0 .87
,
4 .03
2 .86
,
6,.70
4 .34
.

5 .74
5 .74
5 .78
5 .79
5 .80
5 .84

5 .69
5 .73
5 .76
5 .78
5 .80
5 .81

5 .69
5 .73
5 .78
5 .78
5 .81
5 .83

5 .75
5 .77
5 .80
5 .81
5 .81
5 .90

5 .73
5 .75
5 .80
5 .81
5 .86
5 .95

5 .69
5 .73
-0 .04

5 .75
5 .74
0 .01

5 .73
5 .70
0 .03

5 .81
5 .78
0 .03

5 . 81
5 .78
0 .03

Selected Euro-dollar & U.S. Mone? r Market Rates

Overnight Euro-dollar deposits
U.S. federal funds
Differential
3-month Euro-dollar deposit
U.S. 90-day CD's, secondary market
Differential
Chart 8.

5 .77
6 .71
6 .21
4 .45
0 .82
4 .11
2 .74
6 .74
4 .40

Euro-Dollar Deposit Rates

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

16 - Aug -95 23 -Aug -95

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.

9 -Aug-95

5 .74
5 .75
-0 .01

5 .69
5 .83
-0 . 14

5 .79
5 .77
0 .02

5 . 78
5 .75
0 .03

5 .78
5 . 75
0 .03

Interest Arbitrage, 3-Month Funds

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

5 .79
,
5 .82
.
-0,. 04

5 .78
5 . 80
-0 .02

5 .78
5 .85
-0 .06

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

5..79
5..94
- 0 ..14

5 .80
.
5 .90
.
-0 .10
.

,
5 .81
.
5 .91
-0..11

5.
.83
5.
.98
-0 .15
.

,
5 .84
,
5 .89
-0..05

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

5..79
5..83
- 0 ..04

5.
.78
5.
.84
- 0 ..06

5 . 78
5.
.90
- 0 ., 12

5 . 81
5.
.85
- 0 . 05

5.
.81
5.
.89
-0 .
.08

Euro-dollar deposit
Swiss interbank, covered
Differential

5.
,79
5. 99
- 0 . 20

5.
,78
5 .83
- 0 . 05

,78
5.
5 .88
- 0 . 10

5 .81
5 .83
- 0 . 02

5..81
5.,91
- 0 . 10

Chart 9.

nd Yields
8. 35
7 .39
6. 76
3 .01
4 .57
6. 81
8. 16
6. 46

8 .35
7 .33
6. 68
3 .16
4 .51
6. 72
8. 07
6. 49

8 .36
7 .34
6 .74
3 .26
4 .52
6. 78
8. 14
6. 56

8. 30
7. 32
6. 73
3 .36
4 .47
6. 79
8. 08
6. 57

10-year maturity, where available

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

Stock Indices

8. 25
7 .45
6. 83
3 .00
4 .61
6. 89
8. 27
6. 47

, 81
5.
5 .78
.
0..02

(Wednesday figures)

Canada
153.36
153.11
154.02
153.57
France
149.85
150.97
150.23
151.64
Germany
122.63
123.05
123.09
123.58
Japan
99.03
100.64
102.05
109.57
Netherlands
164.18
165.16
163.80
163.69
Switzerland
236.11
238.41
236.40
242.97
United Kingdom
200.80
202.73
201.76
202.60
United
220.74
220.66
- - - y — States
22V.bb
220.58
220.58
220.42
220.42
?
i i n o r d e r ' rebased to 1986=100) are Toronto Composite, CAC General spliced
at 22dec93, FAZ Aktien, Tokyo SE (Topix), CBS All-General, Swiss Bank Index,
Financial Times Ordinary, NYSE Composite




5 . 81
5 .83
-0 .02

153.56
150.76
123.98
106.56
164.78
244.22
204.81
219.81
to SBF250

FEDERAL RESERVE statistical release
H.10(512)

August 28, 1995

FOREIGN EXCHANGE RATES
FOR THE WEEK ENDING

AUGUST 25, 1995

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

Aug. 21

XAUSTRALIA
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

0.7368
10.350
30.260
1.3592
8.3322
5.7070
1.2739
4.3440
5.0434
1.4717
235.69
7.7430
31.620
1.5765
1616.50
96.55
2.4933
6.2300
1.6475
0.6505
6.4350
152.00
1.4267
3.6560
777.70
125.340
51.500
7.3500
1.2210
27.460
25.050
1.5405

0.7400
10.438
30.510
1.3578
8.3325
5.7500
1.2654
4.3830
5.0785
1.4842
237.47
7.7430
31.630
1.5700
1623.75
96.73
2.4994
6.2125
1.6615
0.6486
6.4790
153.31
1.4255
3.6610
776.30
126.140
51.500
7.3455
1.2310
27.500
25.040
1.5355

0.7405
10.419
30.470
1.3585
8.3333
5.7405
1.2677
4.3950
5.0790
1.4815
236.96
7.7445
31.700
1.5725
1618.00
96.50
2.4975
6.2800
1.6587
0.6475
6.4635
153.07
1.4234
3.6550
776.90
126.000
51.500
7.3185
1.2255
27.490
25.040
1.5415

0.7408
10.384
30.360
1.3565
8.3348
5.7220
1.2720
4.3770
5.0705
1.4765
236.10
7.7459
31.820
1.5760
1609.75
96.55
2.4968
6.3100
1.6537
0.6435
6.4465
152.64
1.4240
3.6600
777.50
125.650
51.650
7.2985
1.2210
27.470
25.060
1.5432

0.7435
10.403
30.410
1.3461
8.3353
5.7355
1.2689
4.4005
5.0830
1.4791
237.32
7.7435
31.720
1.5770
1617.00
96.64
2.4885
6.3100
1.6568
0.6505
6.4655
153.34
1.4225
3.6605
777.00
126.150
51.500
7.3340
1.2184
27.480
25.040
1.5418

MEMO:
^•UNITED STATES

DOLLAR

85.85

86.29

86.12

85.92

86.01

COUNTRY

(CURRENCY UNITS PER DOLLAR)
Aug. 22
Aug. 23
Aug. 24

Aug. 25

•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.