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(516/517) Selected Interest & Exchange Rates W eek ly Series o f Charts August 5, 2002 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 SUBSCRIPTION RATES: 1. LATEST FIGURES PLOTTED 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. 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 Chart 1 Nominal Currency Exchange Values Dollar prices of foreign currencies and weighted average values of U.S. dollar (Average 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 Canada 8 6 4 2 0 2 Swiss franc Australian dollar 1 0 -1 -2 -3 -4 Chart 3 Price of Gold in London (Averages for week ending Wednesday) 380 .S. dollars per fine ounce U.S. dollars per fine ounce 380 360 360 340 340 320 320 300 300 280 280 260 260 240 240 Chart 4 Interbank Funding Rates and Official Interest Rates (Averages for week ending Wednesday, percent per annum) the minimum bid rate and weighted average rate are shown. Charts 3-Month Interest Rates (Averages for week ending Wednesday, percent per annum) 8 U.S. CD Euro-area interbank 6 ihted average n foreran rati 4 2 8 6 — Canadian finance paper Japanese yen 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 2000 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 29, 2000 = 100) 150 125 100 75 50 3-Jul-02 Chart 1. 10-Jul-02 17 -Jul-02 24-Jul-02 31-Jul-02 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 56.2180 65.755 0.83449 98.58 10.8418 67.153 152.81 56.4300 65.787 0.84280 98.57 10.7091 67.046 153.76 55.7720 65.247 0.86006 100.14 10.7877 68.223 156.15 54.9020 64.165 0.85817 100.40 10.6404 68.930 157.34 54.1720 63.364 0.84015 98.67 10.5850 67.890 156.62 39.79 65.54 218.50 141.79 48.01 216.04 61.81 39.94 65.57 220.67 141.77 47.42 215.69 62.19 39.47 65.03 225.19 144.03 47.77 219.48 63.16 38.86 63.95 224.70 144.40 47.12 221.76 63.64 38.34 63.15 219.98 141.91 46.87 218.41 63.35 -3.22 -1.05 -1.62 1.89 0.69 -2.22 -3.12 -1.06 -1.61 1.88 0.70 -2.16 -3.12 -1.04 -1.61 1.86 0.79 -2.14 -3.10 -1.08 -1.61 1.84 0.97 -2.14 312.44 316.85 318.88 305.49 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. -3.31 -1.01 -1.63 1.89 0.67 -2.25 314.94 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 1.75 1.75 1.25 1.75 1.73 1.25 1.75 1.74 1.25 1.75 1.72 1.25 1.75 1.72 1.25 2.75 2.50 2.25 2.75 2.50 2.25 3.00 2.59 2.50 3.00 2.74 2.50 3.00 2.73 2.50 4.25 3.37 3.25 2.25 4.25 3.31 3.25 2.25 4.25 3.29 3.25 2.25 4.25 3.29 3.25 2.25 4.25 3.31 3.25 2.25 0.00 0.10 0.00 0.10 0.00 0.10 0.00 0.10 0.00 0.10 2.25 1.23 1.25 2.25 1.19 1.25 2.25 1.17 1.25 2.25 1.11 1.25 2.25 0.92 1.25 4.03 4.00 3.70 4.00 3.58 4.00 3.41 4.00 4.45 4.00 *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. 3-Jul-02 Chart 5. 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. 10-Jul-02 17-Jul-02 24-Jul-02 31-Jul-02 1.81 1.81 1.79 1.79 5.04 5.06 5.00 4.93 2.84 2.91 2.91 2.86 3.44 3.43 3.41 3.40 0.04 0.05 0.05 0.05 4.51 4.55 4.47 4.48 1.15 1.12 1.09 1.02 4.05 4.03 3.96 3.93 2.32 2.34 2.33 2.30 Switzerland, Australia, and Sweden) Long Term Government Bellwether Bond Yields 10-year maturity, where available 5.39 5.43 5.32 5.20 Canada 5.03 5.08 4.96 4.89 France 4.94 4.99 4.88 4.82 Germany 5.19 5.23 5.11 5.05 Italy 1.27 1.33 1.31 1.28 Japan 3.29 3.29 3.21 3.15 Switzerland 5.01 5.08 4.95 4.90 United Kingdom 4.82 4.80 4.68 4.55 United States 4.57 4.60 4.50 4.44 Weighted average foreign interest rate (Canada, euro area, Japan, United Kingdom, Switzerland, Australia, and Sweden) Chart 7. 1.77 4.97 2.88 3.38 0.05 4.47 0.81 3.89 2.29 5.22 4.85 4.76 5.01 1.33 3.14 4.88 4.53 4.44 Stock Indexes (Wednesday figures) Canada France Germany Euro area Italy Japan Switzerland United Kingdom United States 78.62 64.30 64.60 259.80 64.44 81.35 70.52 58.73 78.13 77.42 65.01 67.21 263.21 65.65 80.80 71.57 59.14 75.65 75.33 61.62 63.46 240.50 61.87 76.97 65.93 55.79 73.73 71.44 54.83 54.18 225.55 56.24 76.08 57.55 50.17 68.99 Indices (in order, rebased to December 29, 2000) are Toronto Composite, SBF250, FAZ Aktien, DJ Euro Stoxx Index, Banca Italiana General, Tokyo SE (Topix), Swiss Performance Index, Financial Times Ordinary, NYSE Composite 73.94 60.86 61.51 226.69 61.25 75.18 64.46 55.03 74.80
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