Full text of H.13 Selected Interest and Exchange Rates, Weekly Series of Charts : August 30, 1993

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(516/517)

Selected Interest &
Exchange Rates
Weekly Series of Charts

August 30,1993

DIVISION OF
INTERNATIONAL FINANCE

Prepared by the
FINANCIAL MARKETS
SECTION

BOARD OF GOVERNORS
FEDERAL RESERVE SYSTEM
Washington, DiC. 20551




Table of Contents

TABLES
1. LATEST FIGURES PLOTTED
2. DAILY CERTIFIED SPOT
EXCHANGE RATES
H.10 RELEASE
CHARTS
1. SPOT EXCHANGE RATE 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
U.S. MONEY MARKET RATES
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 order of the Board of Governors
of the Feoeral 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
SCALE
41973=100

120

RATIO Si
MARCH 1975

FOREIGN CURRENCY
PRICE OF U.S. DOLLAR

110

100
90
80
70
290

BELGIAN FRANC
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270
—

250

JAPANESE YEN

230
210

SWISS FRANC

190
170
100

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90

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U.K. POUND

80
70
CANADIAN DOLLAR
60
50
200

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180
160
140
120
100

GERMAN MARK

DUTCH GUILDER
•

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1 m

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110
100

FRENCH FRANC

90
80
ITALIAN LIRA

70

60

»

i i
1990




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1992

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1990

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1992

I

CHART 2

3-MONTH FORWARD EXCHANGE RATES
PREMIUM (+) OR (-)
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM
2

PERCENT PER ANNUM

2

f

U.K. POUND

GERMAN MARK

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CANADIAN DOLLAR

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JAPANESE YEN

—
1

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SWISS FRANC

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2

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DUTCH GUILDER
V

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—

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+

0

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2
+

ITALIAN LIRA

FRENCH FRANC

0
2

2

4

4

6
8

6

10
12

8

14

10
12

1

1

'

1990




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1992

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1990

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1992

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16
18

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

— 420

12.5 Kg BARS
AFTERNOON FIXING PRICE

400

— 400

380 —

360 —

340 —

320

1990




1991

1992

1993

320

CHART4

CALL MONEY RATES
WEEKLY SERIES
PERCENT PER ANNUM

PERCENT PER ANNUM

10

16

FRANCE

U.S. FEDERAL FUNDS

JAPAN

NETHERLANDS
GERMANY

UNITED KINGDOM

CANADA

SWITZERLAND

1990




1992

1990

1992

CHART 5

3-MONTH INTEREST RATES
WEEKLY SERIES
PERCENT PER ANh

ENT PER ANNUM
12
WEIGHTED AVERAGE
FOREIGN RATE
10

CANADIAN FINANCE PAPER

8

—

6
4
2

0

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16

13

10
U.K. INTERBANK STERLING

—

NETHERLANDS INTERBANK RATE

7

4
9

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7

5
JAPANESE CD RATE
FRENCH INTERBANK RATE
3

i

1
10

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8
6
GERMAN INTERBANK RATE

SWISS INTERBANK
4
1

2

'

'

1990




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1992

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CHART 6

EURO-DOLLAR DEPOSIT RATES
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM
10

PERCENT PER ANNUM
10

3-MONTH

OVERNIGHT

— 4

4 —

2

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2
10

10

7-DAY

8 —

6-MONTH

6 —

4 —

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1992

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1-YEAR

1-MONTH

1990

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1992

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1990

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10

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 ANNUM

PERCENT PER ANNUM

10

10

3-MONTH

OVERNiGHT

6

EURO-DOLLAR DEPOSITS

EURO-DOLLAR DEPOSITS

8 —

—

90-DAY CD'S

FEDERAL FUNDS

DASHED LINE

DASHED LINE

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DIFFERENTIAL

DIFFERENTIAL

.rV
w - w v / r

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I—I—I—I—I—L
1992

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1990

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1992

CHARTS

INTEREST ARBITRAGE: 3-MONTH FUNDS
DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM
10

PERCENT PER ANNUM

10

8 —
CANADIAN FINANCE
CO. PAPER, COVERED

INTERBANK STERLING

COVERED LONDON
6

—

4 —
U.S. COMMERCIAL PAPER

EURO-DOLLAR DEPOSITS'

DASHED LINE

DASHED LINE

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DIFFERENTIAL

DIFFERENTIAL

A
v-^Vv\

2
10

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INTERBANK DM

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1

1 1

SWISS INTERBANK (SF) COVERED

COVERED FRANKFURT

4 —
EURO-DOLLAR DEPOSITS

EURO-DOLLAR DEPOSITS

DASHED LINE

DASHED LINE

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DIFFERENTIAL

DIFFERENTIAL
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1

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1992

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1990

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1992

1

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2

CHART 9

LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
PERCENT PER ANNUM
10 |

PERCENT PER ANNUM

14

UNITED STATES

UNITED KINGDOM
12

10

5

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12

6
11

FRANCE

CANADA
11

10

10

9

9

8

8

7

7

6

6
8

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SWITZERLAND

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GERMANY

1




•

JAPAN

NETHERLANDS

1990

•

1992

1

1990

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1992

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CHART 10

STOCK INDICES
WEEKLY SERIES
RATIO SCALE
1986=100

RATIO SCALE
1986=100

230

230
UNITED KINGDOM

UNITED STATES

210
190
170
150
130

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110

250
JAPAN

SWITZERLAND

210
170
130

90

•

130

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FRANCE

GERMANY

50
165
155

120

145

110

135

100

125

90

115
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CANADA

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1990




1

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NETHERLANDS

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1992

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1990

1992

28-Jul-93 4-Aug-93
Chart 1.

ll-Aug-93 18-Aug-93 25-Aug-93

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

2.8076
78.023
17.038
58.165
0.06234
0.93939
51.714
65.993
149.80

2.7436
77.663
16.783
58.096
0.06230
0.95255
51.627
66.164
149.32

2.7523
77.349
16.734
58.575
0.06204
0.95791
52.041
66.127
148.72

2.7688
76.053
16.691
58.853
0.06206
0.98121
52.272
66.262
148.12

2.8182
75.845
17.050
59.344
0.06269
0.96047
52.781
67.454
149.93

110 .63
77 .76
76 .78
163 .62
35,.78
245,.96
148,.46
212 .
.31
60..59

108 .11
77 .41
75 .63
163 .43
35,.76
249,.41
148,.21
212..86
60..39

108 .45
77 .09
75 .41
164 .78
35,.61
250,.81
149,.40
212..74
60..15

109 .11
75 .80
75 .21
165 .56
35,.62
256..91
150..06
213..17
59..91

111 .05
75 .59
76 .83
166 .94
35 .98
251,.48
151,.52
217..01
60..64

104 .20
72 .17
69 .63
172 .74
31 .09
267 .03
146 .81
51 .96
208 .12
54 .45
94 .75

104 .65
70 .73
69 .28
173 .33
31 .04
273 .74
147 .21
51 .38
208 .16
54 .10
94 .53

106 .05
70 .14
70 .55
174 .00
31 .20
265 .76
147 .94
51 .35
210 .91
54 .52
93 .92

-0.89
-5.23
-3.52
-5.99
0.06
-3.08
-1.48
-2.64

-0 .86
-5 .16
-3 .39
-6 .08
0 .08
-2 .93
-1 .46
-2 .66

-1 .56
-4 .94
-3 .40
-6 .04
0 .26
-3 .31
-1 .53
-2 .67

-1 .55
-4 .20
-3 .41
-6 .21
0 .33
-3 .29
-1 .53
-2 .66

391.54

401.55

381 .04

372 .36

372 .91

3.03
2.95
3.85
9.68
6.99
3.21
6.66
4.60
5.73

3.10
3.04
3.98
14.38
6.71
3.23
6.55
4.73
5.65

2 .98
2 .93
3 .78
9 .85
6 .66
3 .20
6 .61
4 .68
5 .90

3 .06
2 .99
4 .15
9 .00
6 .67
3 .09
6 .62
5 .00
5 .63

2 .98
2 .88
4 .30
7 .81
6 .83
2 .97
. 6.59
4 .75
5 .48

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

Weighted average exchange value indices, Mar. 1973=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

106.35
72.81
71.00
171.19
31.23
261.11
145.75
51.44
207.59
54.86
94.69

104.06
72.64
70.00
171.43
31.29
265.91
145.85
51.23
208.64
54.80
94.98

Premium or Discount
-0.95
-5.83
-3.74
-6.42
0.07
-3.25
-1.49
-2.74
Fixing

U.S. dollars per fine ounce
Chart 4.

Call Money Rates

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




28-Jul-93 4-Aug-93
Chart 5.

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.

3.,18
4.
,35
8..66
6..95
.20
3.
6..43
4.
.56
5..93
6..18

3,.16
.24
4.
7 .72
.
6..73
3,.20
6 .22
4 .56
,
5 .78
5,.96

3. 16
4 .14
8. 01
6. 49
3 .22
6. 12
4 .54
5. 79
5. 97

3 .13
4 .74
7. 68
6. 44
3. 00
6. 39
4 .58
5. 81
5. 98

3. 14
4 .84
7 .11
6.45
2 .87
6.,29
,56
4.
5.,79
5.,88

2 .95
,
3 .00
3 .05
3 .19
3 .43
3 .74

3 .04
3 .05
3 .06
3 .19
3 .39
3 .68

2 .93
3. 00
3 .06
3. 14
3 .38
3 .61

2 .99
3. 00
3. 06
3 .13
3 .34
3. 53

.88
2.
3..00
3..06
3..13
3..31
3 .50

Euro-Dollar Deposit Rates

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

ll-Aug-93 18-Aug-93 25-Aug-93

Selected Euro-dollar & U.S. Mone} Market Rates
2 .95
3 .03
-0 .08

3 .04
3 .10
-0 .06

2,
,93
2,
.98
-0..05

2 .99
3 .06
-0. 07

2 .88
,
2 .98
,
-0 .10

3 .19
3 .18
0 .01

3 .19
3 .16
0 .03

.14
3.
3..16
-0..02

.13
3.
,13
3.
-0..01

3 .13
3 .14
,
-0 .01

3 .19
3 .14
0 .04

3 .19
3 .10
0 .09

3 .14
3 .09
0 .05

3 .13
,
3 .10
0 .02

3 .13
3 .09
0 .03

3 .22
3 .40
-0 .18

3 .22
3 .34
-0 .11

3 .21
3 .28
-0 .06

3 .18
3 .16
0 .02

3 .15
3 .28
-0 .13

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

3 .19
3 .15
0 .04

3 .19
3 .15
0 .03

3 .14
3 .05
0 .09

3 .13
2 .99
0 .14

3 .13
2 .98
0 .14

Euro-dollar deposit
Swiss interbank, covered
Differential

3 .19
3 .06
0 .13

3 .19
3 .06
0 .12

3 .14
3 .06
0 .08

3 .13
3 .03
0 .09

3 .13
3 .02
0 .11

7 .28
6 .75
6 .54
4 .35
4 .50
6 .39
7 .49
5 .92

7 .09
6 .51
6 .51
4 .32
4 .49
6 .32
7 .30
5 .84

7 .01
6 .38
6 .38
4 .28
4 .48
6 .20
7 .06
5 .82

7 .00
6 .32
6 .35
4 .21
4 .47
6 .21
6 .92
5 .71

6 .93
6 .29
6 .33
4 .31
4 .46
6 .18
6 .94
5 .58

130 .74
151 .15
106 .66
122 .67
127 .30
181 .83
176 .71
182 .21

132 .91
158 .03
108 .65
126 .40
128 .98
183 .23
180 .79
183 .00

133 .83
160 .99
108 .71
127 .05
130 .77
183 .58
184 .58
183 .78

135 .20
161 .25
111 .45
126 .72
133 .75
188 .33
186 .67
185 .89

137 .39
161 .59
110 .85
124 .71
134 .78
189 .36
185 .76
187 .72

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.

Interest Arbitrage, 3-Month Funds

Euro-dollar deposit
Interbank sterling (London), covered
Differential
U.S. commercial paper
Canadian finance paper, covered
Differential

Chart 9.

Long Term Government Bellwether Bond Yields
10-year maturity, where available

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

Stock Indices (Wednesday figures)
0

Canada
France
Germany
Japan
Netherlands
Switzerland
United Kingdom
United States

Indices (in order, rebased to 1986=100) are Toronto Composite, CAC General, FAZ Aktien,
Tokyo SE (Topix), CBS All-General, Swiss Bank Index, Financial Times Ordinary, NYSE Composite



ySSSM-.

FEDERAL RESERVE statistical release
August 30, 1993

H.10(512)

FOREIGN EXCHANGE RATES
FOR THE WEEK ENDING

AUGUST 27, 1993

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
CANADA
CHINA,P.R.
DENMARK
*EURO COMMUNITY
FINLAND
FRANCE
GERMANY
GREECE
HONG KONG
INDIA
^IRELAND
ITALY
JAPAN
MALAYSIA
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
GUILDER
DOLLAR
KRONE
ESCUDO
DOLLAR
RAND
WON
PESETA
RUPEE
KRONA
FRANC
DOLLAR
BAHT
POUND

MEMO:
f*UNITED STATES

DOLLAR

Aug. 23

(CURRENCY UNITS PER DOLLAR)
Aug. 26
Aug. 25
Aug. 24

Aug. 27

0.6665
11.809
35.670
1.3200
5.7963
6.9375
1.1320
5.8150
5.8865
1.6895
237.25
7.7485
31.480
1.3980
1597.00
103.12
2.5505
1.8992
0.5505
7.3275
172.15
1.6085
3.3700
814.10
136.75
48.800
8.0900
1.4855
26.957
25.160
1.5013

0.6690
11.824
35.410
1.3194
5.7963
6.8965
1.1370
5.8170
5.8575
1.6825
236.00
7.7482
31.630
1.4052
1594.25
103.73
2.5496
1.8915
0.5528
7.2930
170.90
1.6085
3.3625
813.90
135.35
48.820
8.0475
1.4795
26.959
25.160
1.4962

0.6710
11.891
35.670
1.3145
5.7963
6.9150
1.1305
5.8425
5.8620
1.6887
237.30
7.7512
31.630
1.3950
1599.70
104.95
2.5500
1.8965
0.5565
7.3300
171.55
1.6090
3.3700
812.90
135.20
48.830
8.0625
1.4855
26.960
25.170
1.4818

0.6702
11.740
35.630
1.3160
5.7963
6.8600
1.1420
5.7775
5.8450
1.6687
235.05
7.7507
31.630
1.3960
1590.00
104.40
2.5490
1.8755
0.5550
7.2575
170.85
1.6058
3.3625
812.20
135.40
48.880
8.0700
1.4685
26.956
25.210
1.4990

0.6660
11.735
35.570
1.3218
5.7963
6.8555
1.1393
5.8795
5.8300
1.6670
235.30
7.7495
31.630
1.3970
1594.50
104.00
2.5497
1.8739
0.5520
7.2555
170.38
1.6058
3.3700
811.50
135.40
48.880
8.0850
1.4710
26.956
25.185
1.5005

93.98

93.82

94.24

93.61

93.56

*VALUE IS U.S. DOLLARS
**INDEX OF WEIGHTED AVERAGE EXCHANGE VALUE OF U.S.
DOLLAR AGAINST CURRENCIES OF OTHER G-10
COUNTRIES.
MARCH 1973 = 1 0 0 .
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.