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(516/517) Selected Interest & Exchange Rates W eekly Series o f Charts August 28, 2000 DIVISION OF INTERNATIONAL FINANCE Prepared by the BOARD OF GOVERNORS FINANCIAL MARKETS FEDERAL RESERVE SYSTEM SECTION W ashington, 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 o f 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) 90 70 50 30 Chart 2 3-Month Forward Exchange Rates Premium (+) or (-) (Averages for week ending Wednesday, percent per annum) 1997 1998 1999 2000 Chart 3 Price of Gold in London (Averages for week ending Wednesday) u.s . dollars per fine ounce U.S. dollars per fine oi 420 420 400 400 380 380 360 360 340 340 320 320 300 300 280 280 260 260 240 1995 1996 1997 1998 1999 2000 240 Chart 4 Interbank Funding Rates and Official interest Rates (Averages for week ending Wednesday, percent per annum) Germany/Euro Area Marginal h lending rateJ Lombard rate Call money . f" Discount rate I'iix T; / *—I eoma i— 1 Overnight y deposit rates'^ — ___________ I___________ ___________ i___________ 1997 1998 1999 2000 Chart 5 3-Month Interest Rates (Averages for week ending Wednesday, percent per annum) 7 German/euro-area interbank 5 U.S. CD 3 1 4 Canadian finance paper Japanese CD 2 0 -2 6 U.K. interbank sterling Swiss interbank 4 2 0 Australian bank bill Swedish treasury bill 9 7 5 3 1 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 United Kingdom 8 France 6 4 2 0 8 Switzerland 6 4 2 0 Chart 7 Stock Indexes (Averages for week ending Wednesday, ratio scale, December 30,1994 = 100) o o i Chart 1. 9- ! 26 -Jul-00 2-Aug-00 16-Aug-00 23-Aug-00 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 58.5880 68.102 0.91835 93.51 11.1387 60.214 151.49 58.3700 67.501 0.91459 92.42 10.8921 59.745 150.08 58.3840 67.254 0.92163 90.46 10.8092 58.495 150.11 58.3020 67.426 0.91837 90.88 10.8741 58.379 150.25 58.4800 67.656 0.92458 90.36 10.7699 57.952 148.79 41.47 67.88 240.45 134.49 49.33 193.72 61.27 41.31 67.28 239.47 132.92 48.23 192.21 60.70 41.32 67.03 241.31 130.11 47.87 188.19 60.71 41.26 67.20 240.46 130.71 48.16 187.81 60.77 41.39 67.43 242.09 129.96 47.69 186.44 60.18 0.48 0.89 2.08 6.76 3.35 0.58 0.36 0.89 2.05 6.66 3.37 0.59 0.26 0.88 1.88 6.51 3.37 0.58 0.19 0.85 1.84 6.50 3.28 0.59 277.98 273.55 274.17 274.79 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. 0.59 0.91 2.10 6.69 3.39 0.62 279.50 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 6.50 6.50 6.00 6.50 6.49 6.00 6.50 6.45 6.00 6.50 6.53 6.00 6.50 6.46 6.00 6.00 5.72 5.50 6.00 5.74 5.50 6.00 5.73 5.50 6.00 5.75 5.50 6.00 5.75 5.50 5.25 4.25 4.25 3.25 5.25 4.36 4.25 3.25 5.25 4.33 4.25 3.25 5.25 4.37 4.25 3.25 5.25 4.26 4.25 3.25 0.02 0.50 0.02 0.50 0.02 0.50 0.13 0.50 0.25 0.50 4.00 3.42 3.00 4.00 3.43 3.00 4.00 3.40 3.00 4.00 3.38 3.00 4.00 3.47 3.00 5.84 6.00 5.90 6.00 5.93 6.00 5.58 6.00 5.50 6.00 *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. 26-Jul-00 2-Aug-00 Chart 5. 9-Aug-00 16-Aug-00 23-Aug-00 3-Month Interest Rates U .S . 90-day CD *s , secondary market 6.66 6.67 6.63 6.61 Australian bank bill 6.22 6.45 6.40 6.49 Canadian finance paper 5.93 5.91 5.91 5.91 Euro-area interbank 4.64 4.64 4.75 4.63 Japanese CD 0.12 0.10 0.24 0.12 Swedish treasury bill 4.17 4.18 4.12 4.19 Swiss interbank 3.34 3.34 3.32 3.28 U.K. interbank sterling 6.08 6.05 6.05 6.06 3.97 Weighted average foreign interest rate 3.90 3.92 3.91 (Canada, euro area, Japan, United Kingdom, Switzerland, Australia, and Sweden) Chart 6. Long Term Government Bellwether Bond Yields 10-year maturity, where available 5.87 5.87 5.76 5.77 Canada 5.37 5.34 5.33 5.33 France 5.24 5.19 5.18 5.16 Germany 5.57 5.54 5.52 5.54 Italy Japan 1.72 1.68 1.69 1.74 Switzerland 3.96 4.01 4.04 3.99 5.23 5.17 5.21 5.23 United Kingdom 6.02 5.79 6.03 5.91 United States 4.97 4.95 4.92 4.93 Weighted average foreign interest rate (Canada, euro area, Japan, United Kingdom, Switzerland, Australia, and Sweden) Chart 7. 6.61 6.54 5.92 4.85 0.31 4.07 3.38 6.07 4.03 Stock Indexes Canada France Germany Euro area* Italy Japan Switzerland** United Kingdom United States 5.77 5.38 5.22 5.58 1.79 4.03 5.31 5.78 4.97 (Wednesday figures) 259.07 329.83 278.44 437.41 322.43 96.50 318.51 154.61 256.96 246.07 330.51 272.93 423.77 314.31 95.09 323.69 155.65 259.15 257.81 332.55 272.39 423.79 321.89 95.00 327.95 156.70 263.24 261.79 338.04 277.62 433.47 324.41 95.92 332.13 157.61 265.50 263.62 330.79 273.71 431.37 319.41 96.18 334.39 156.52 267.88 Indices (in order, rebased to December 30, 1994, **December 29, 1994) are Toronto Composite, SBF250, FA2 Aktien, *Dow Jones EURO stock index, Banca Italiana General, Tokyo SE (Topix), Swiss Performance Index, Financial Times Ordinary, NYSE Composite
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