Full text of H.13 Selected Interest and Exchange Rates, Weekly Series of Charts : August 7, 1995

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Selected Interest &
Exchange Rates
Weekly Series of Charts

August 7, 1995

DIVISION OF
INTERNATIONAL FINANCE

Prepared by the
FINANCIAL MARKETS
SECTION

BOARD OF GOVERNORS
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

RATIO SCALE
MARCH 1973=100
150

FOREIGN CURRENCY
PRICE OF U.S. DOLLAR

100

BELGIAN FRANC
130

80

110

60 —I—I—L I

I I I

I I I I I I I I

I

I I I I I I I I I I I I I I

300

JAPANESE YEN

330

SWISS FRANC

260

90
390

270

220

180
100

210

I I I I I I I I I I I I I I I

I

I I I I I I

I I I I I I I I

CANADIAN DOLLAR

80

85

U.K. POUND

60

40
195

65

I I I I I I I I I I I I I I I

'

I •

I » '

» I I » » I I I I

45
215

GERMAN MARK

DUTCH GUILDER

175

195

155

135
115

150
105

175

I I I I I I I I I I I I I I I

i

i

i

i

i

I

i

i

i

I i

i

i

ITALIAN LIRA

FRENCH FRANC

95

I i

155
75
55

35
75

55

I

I I I I I




1993

I I

I I I I I I I
1995

i

i

i

I i

i i
1993

I i

i i

I

i

i i
1995

15

CHART 2

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

PERCENT PER ANNUM

2

2

U.K. POUND

1

11

I

1

1

1

I

1

1 1

1

1

1

1

1

1

1

1

1 1

1

1

1

1

JAPANESE YEN

CANADIAN DOLLAR

1

1

1

1

1

DUTCH GUILDER

SWISS FRANC

2
4

6
1

1

1

1

1

1

1

1

1

1 1

1

1

1

1

8
2

ITALIAN LIRA

FRENCH FRANC

2
6
10
14

•

» •




I

•

'
1993

•

I

1

1

1

I

1

'
1995

•

1

1
1992

1

1

1

1

1

1

1

1 1
1994

1

1

1

1

18

CHART 3

PRICE OF GOLD IN LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
U.S. DOLLARS PER FINE OUNCE
420

U.S. DOLLARS PER FINE OUNCE
420

12.5 Kg BARS
AFTERNOON FIXING PRICE
400

400

380

380

360

360

340

340

320

J

I
1991




I

I

L

I
1992

J

l__l

L
1993

1994

J

I

L
1995

320

CHART 4

CALL MONEY RATES
WEEKLY SERIES
PERCENT PER ANNUM
10

PERCENT PER ANNUM
7

SWITZERLAND
U.S. FEDERAL FUNDS

JAPAN

NETHERLANDS

GERMANY

FRANCE

CANADA

UNITED KINGDOM




1993

1995

1993

1995

CHART 5

3-MONTH INTEREST RATES
WEEKLY SERIES
PERCENT PER ANNUM
9

PERCENT PER ANNUM
10

CANADIAN FINANCE PAPER
WEIGHTED AVERAGE
FOREIGN RATE

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

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i i

3
11

NETHERLANDS INTERBANK RATE
10
U.K. INTERBANK STERLING

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
FRENCH INTERBANK RATE

JAPANESE CD RATE

1

'

i

'

I

'

i

i

I i

i

i

I i \

i

i

'

'

I i

i

i

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i

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i

i

5

11

10
GERMAN INTERBANK RATE

SWISS INTERBANK

i




I I i

i
1993

i

I

I I I I i

i
1995

i

i

i

i

I i

i
1993

i

I

i

i i

I

i i i
1995

CHART 6

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

PERCENT-PER ANNUM

8

8
3-MONTH

OVERNIGHT

i

•

I I

I 1 •

1

i

i

i

•

•

1

1

1

1

6-MONTH

7-DAY

•

•

I

1

1

'

I '

l

1

'

I I I

I •

•

I '

'

•

I '

'

'

1-YEAR

1-MONTH

6 —

•

•

•




I i

i
1993

» 1 »

1

1

I i

i
1995

i

I

•

•

I I

I I I
1993

I I I I I I I
1995

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

7

PERCENT PER ANNUM

7

3-MONTH
EURO-DOLLAR DEPOSITS

OVERNIGHT
EURO-DOLLAR

90-DAY CD'S
DASHED LINE

FEDERAL FUNDS
DASHED LINE

J
•

L

•

I

•

•

1

'

1

•

1

1

1

1

1
" " —

—

DIFFERENTIAL

DIFFERENTIAL

\ IA .x

JLa.

W

1

1




1

in

1

1

|
1993

I

1

1

1

1

i

\H\

i i i
1995

1

4,

•

i

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l

i

1
i
1993

'• v

1

U \f

•

1

1

V ~

1

v

1

1

1
1995

1

CHART 8

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

PERCENT PER ANNUM

7

7
CANADIAN FINANCE
CO. PAPER, COVERED

INTERBANK STERLING

6 —

COVERED LONDON

5 —

U.S. COMMERCIAL PAPER
DASHED

EURO-DOLLAR DEPOSITS
DASHED LINE

3 —

i

i

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I

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l

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DIFFERENTIAL

DIFFERENTIAL
Jy^

1 I i

'

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I I

I I I I I I I I I I

INTERBANK DM
COVERED FRANKFURT

SWISS INTERBANK (SF) COVERED

EURO-DOLLAR DEPOSITS
J.\

EURO-DOLLAR DEPOSITS

DASHED LINE

•A

uS

•

I

'

I

'

I '

I

I I '

I '

'

I

'

DASHED LINE

I

» 1




1

1

1993

1

I

I I I '

I I I '

I '

I •

DIFFERENTIAL

DIFFERENTIAL

1

I I I '

I

1

•

1

I •

•

i

1995

•

•

'

I •

•
1993

I

•

•

'
1995

•

I1

CHART 9

LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
PERCENT PER ANNUf

DENT PER ANNUM

11

9

UNITED KINGDOM

UNITED STATES

10
8
9
7

8

6

7

\

5
10

\

\

\

\

\

Ii i iVi i i I

\

6
10

FRANCE

CANADA

9
9

8
8

7

7

6
8

6

'

'

I I

I I

I

I I

1

I I I I I

1

I I

1

1

I

I « I I

I I

5

6
JAPAN

SWITZERLAND

5

7

4

6

3

5
1

4
9

1

'

I

1

'

1

1 i

i

i

1 I l

l

2
9

GERMANY

NETHERLANDS

8

8

7

6

JL-L




I

I i
1993

I

I I l

I I
1995

I

I 1 I I I '
1993

I '

'

'

1 I I I
1995

5

CHART 10

STOCK INDICES
WEEKLY SERIES
RATIO SCALE

RATIO SCALE

1986=100

1986=100

230

210

UNITED STATES

UNITED KINGDOM

210

—

190

190 —

170

i

'

i

l

i

i

'

I '

i

i

I i

i

i

130
160

JAPAN

140
120

100

•

i

'

I

'

'

i

i

'

i

i

i

i

i

i

180

GERMANY

CANADA

140

160

120

140

100

80
190

80

120

i

i

'

l

i

i

i

i

i

I i

i

FRANCE

i

i

i

I

i

i

i

I

i

i

i

i

i

'

'

100
180

NETHERLANDS

170

160

150

140

130

120

110

i

i

i

l




i

i
1993

'

I

i

i

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1995

I

I I I '

I '
1993

I I

I I

I I I I
1995

100

5-Jul-95
Chart 1.

12-Jul-95 19-Jul-95 26-Jul-95 2-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

3.5079
73.332
20.879
72.182
0.06297
1.12699
64.403
86.987
159.87

3.5171
72 .821
20.656
72.355
0.06142
1.17918
64.564
87.065
159.36

3 .4859
73.589
20.577
71.660
0.06181
1.15219
63.962
86.208
159.26

3.4938
73.580
20.648
71.906
0.06192
1.13629
64.173
86.114
159.62

3.5076
73.572
20.764
72.119
0.06238
1.13718
64.406
86.662
159.44

138 ..59
,58
72 .
,08
93 .
.54
203 ,
.26
35 ,
.75
308 ,
185 .35
280 .10
64 .45

137 .36
73 .34
92 .72
201 .59
35 .48
301 .68
183 .62
277 .34
64 .42

137 .67
73 .34
93 .05
202 .28
35 .54
297 .52
184 .23
277 .04
64 .56

138 .22
73 .33
93 .57
202 .88
35 .80
297 .75
184 .90
278 .80
64 .49

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

118 ,.95
60..55
.60
77 .
.85
192 ,
.47
27 ,
.89
284 ,
162 .78
51 .65
243 .14
51 .97
82 .08

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

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

-0.64
-0.59
1. 36
-4 .88
5. 04
1. 71
2.
,95
-0..89

-0.67
-0. 62
1. 35
-5. 13
5.,12
1..73
.11
3.
-0..94

-0.76
-0.41
1. 36
-4 .89
5. 22
1. 78
3..23
-0,.90

-0.92
-0.24
1. 37
-4 .86
5. 29
1. 75
,22
3.
-0..96

385.57

385,.43

389 .21

386 .43

383 .51

6.21
6.01
7.20
7.04
4.71
1.23
4.00
3.39
6.44

5 .81
5 .88
6 .76
6 .84
4 .39
0 .95
4 .04
2 .56
6 .70

5 .72
5 .73
6 .56
6 .71
4 .44
0 .84
4 .16
1 .70
6 .60

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

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.

-0.79
-0.82
1.44
-4 .99
4.90
1.80
2.97
-0.82

Lxing
Gold Price in London, Afternoon Fixing

U.S. dollars per fine ounce
Chart 4.

118.71
60.59
77 .33
192.15
27.43
289.47
162.28
51.19
243.50
51.86
82.12

3-Month Forward Exchange Rates, Premium or Discount

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

119.25
59.61
77.27
193.31
27.11
295.55
163.11
50 .87
244.83
51.63
81.64

Call Money Rates

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




5 -Jul-!95
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.

5 .92
6 .94
6 .70
4 .50
1 .17
4 .19
3 .01
6 .82
4 .74

5 .76
6 .59
6 .34
4 .46
0 .98
4 .16
2 .90
6 .69
4 .52

5 .73
6 .57
6 .32
4 .45
0 .85
4 .14
2 .65
6 .73
4 .43

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

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

6 .01
6 .01
5 .99
5 .92
5 .84
5 .77

5 .88
5 .83
5 .83
5 .77
5 .68
5 .63

5 .73
5 .75
5 .75
5 .75
5 .70
5 .68

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 . 73
5 . 72
0 . 01

5 . 74
5 .75
-0 .01

5 .69
5 .83
-0 .14

Euro-Dollar Deposit Rates

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

12- Jul -95 19-Jul -95 26-Jul•-95 2 -Aug-!95

Selected Euro-dollar & U.S. Money Market Rates

Overnight Euro-dollar deposits
U.S. federal funds
Differential

6 . 01
6 .21
-0 .20

3-month Euro-dollar deposit
U.S. 90-day CD's, secondary market
Differential

5 .92
5 .92
-0 .00

5 .77
5 .76
0 .01

5 .75
5 .73
0 .02

5 .79
5 .77
0 .02

5 .78
5 .75
0 .03

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

5 .92
5 .99
-0 .07

5 .77
5 .79
-0 .02

5 .75
5 .77
-0 .02

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

5 .78
5 .80
-0 .02

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

5 .94
6 .14
-0 .19

5 .76
5 .94
,
-0 .18

5 .75
5 .89
-0 .14

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

5 .80
5 .90
-0 .10

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

5 .92
5 .95
-0 .03

5 .77
5 .84
-0 .07

5 .75
5 .82
-0 .07

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

5 .78
5 .84
-0 .06

Euro-dollar deposit
Swiss interbank, covered
Differential

5 .92
6 .01
-0 .09

5 .77
5 .87
-0 .10

5 .75
5 .78
-0 .03

5.
.79
5 .99
.
-0. .20

5 .78
5 .83
-0 .05

7 .81
.
7 .43
.
6..77
.77
2.
4 .62
.
6..83
8..14
6..06

7 .96
,
7 .44
,
6,.76
2 .99
,
4 .61
,
6 .83
8 .18
6 .23

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

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

Chart 8.

Chart 9.

Interest Arbitrage, 3-Month Funds

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

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

• 5 . 88
5 . 81
0 .07

7 .95
7 .58
6 .89
2 .79
4 .67
6 .99
8 .41
6 .22

Stock Indices (Wednesday figures)

Canada
151,.74
153 ,
156 ,
.54
.97
153 ,
.36
France
148 ,
.47
149 .49
151..50
149 ,
.85
Germany116 .
.08
119 ,
120 ,
.31
.93
122 ,
.63
Japan
91..72
98 .80
100,.25
99 ,
.03
Netherlands
157..46
161,.25
161..63
164 ,
.18
Switzerland
234 .
.21
237..35
236 .97
236..11
United Kingdom
197 ,
.54
197 ,
200,.39
.85
200..80
United States
215,.55
216 .80
220,.49
220..74
Indices (in order, 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



153 ,
.11
150,.97
123 ,
.05
100,.64
165,.16
238,.41
202 ,
.73
220..66
to SBF250

FEDERAL RESERVE statistical release
H.10(512)

August 7, 1995

FOREIGN EXCHANGE RATES
FOR THE WEEK ENDING

AUGUST 4, 1995

The Board of Governors of the Federal Reserve System is advised that the Federal Reserve Sank of New York has certified
for customs purposes the following noon buying rates in New York City for cable transfers payable in foreign currencies:

•AUSTRALIA
AUSTRIA
BELGIUM
CANADA
CHINA,?.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
0. MARK
DRACHMA
DOLLAR
RUPEE
POUND
LIRA
YEN
RINGGIT
PESO
GUILDER
DOLLAR
KRONE
ESCUDO
DOLLAR
RAND
WON
PESETA
RUPEE
KRONA
FRANC
DOLLAR
BAHT
POUND

MEMO:
"UNITED STATES

DOLLAR:

Jul. 31

(CURRENCY UNITS PER DOLLAR)
Aug .
Aug. 1
N

MONETARY
UNIT

1

COUNTRY

a. 7387
9.744
2*.490
1.3695
*.3203
5.3845
1.3412
4.2055
4.7840
1.3852
224.69
7.7382
$1,430
1.6430
1190,75
88.34
2.4570
6.1150
1.5524
0.6738
6.1390
144.73
1.3935
3.6230
759.50
119.090
51.000
7.0720
1.1505
26.480
24.770
1.5980

0.7403
9.720
28.430
1.3667
8.3200
5.3710
1.3437
4.1920
4.7765
1.3816
224.07
7.7383
31.420
1.6435
1584.00
88.43
2.4500
6.1250
1.5486
0.6732
6.1265
143.85
1.3940
3.6130
760.10
118.750
51.000
7.0905
1.1460
26.640
24.770
1.5992

0.7405
9.839
2*. 780
1.3570
8.3202
5.4260
1.3311
4.2400
4.8190
1.3985
225.90
7.7382
31.420
1.6390
1588.00
90.82
2.4595

81.73

81.60

82.35

6.120a

1.5675
0.6706
6.1795
145 ^23
1.3975
3.6200
760.20
119.670
50.600
7.1235
1.1588
26.680
24.820
1.5995

S

Aug. 4

0.7402
9.777
28.510
1.3589
8.3202
5.3900
1.3397
4.2015
4.7870
1.3900
224.61
7.7380
31.417
1.6450
1572.50
90.45
2.4610
6.1250
1.5579
0.6705
6.1385
144.40
1.3980
3.6160
760.50
118.870
51.000
7.0575
1.1493
26.800
24.790
1.6068

0.7425
9.804
28.680
1.3562
8.3000
5.4035
1.3359
4.2065
4.7990
1.3935
225.37
7.7398
31.420
1.6460
1569.00
91.25
2.4620
6.1550
1.5622
0.6695
6.1460
144 * 71
1.3987
3.6125
758.50
120.180
50.650
7.0525
1.1495
2&.600
24.820
1.6073

81.88

82,06

•VALUE IS U.S. DOLLARS

#

*»IND£X OF WEIGHTED AVERAGE EXCHANGE VALUE OF U.S. DOLLAR AGAINST CURRENCIES OF OTHER G-10
COUNTRIES. MARCH 1973 = 109. HEIGHTS 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

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