Full text of H.13 Selected Interest and Exchange Rates, Weekly Series of Charts : August 9, 1993

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Selected Interest &
Exchange Rates
Weekly Series of Charts

August 9,1993

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 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

RAT 'SCALE
MAF H 1973=100
12C

RATIO S
MARCH 197

FOREIGN CURRENCY
PRICE OF U.S. DOLLAR

110

100
90

80

BELGIAN FRANC

'

70
270

'

1

1

l

1

1

'

•

•

'

I

'

'

i

1

'

1

I

1

1

1

*

1

1

I

I

'

'

•

250
230

210
JAPANESE YEN
SWISS FRANC

190
1

170

1

1

I

1

1

1

I

'

'

1

I

1

1

'

100
90

'

I

I

I

I

I

I

I

I

I

I

I

I

I

•

I

U.K. POUND

80
70

CANADIAN DOLLAR

60

I

50

I

I

I

I

I

I

I

I

200

180
160
140

120
100

DUTChl GUILDER

i i ' i

GERMAN MARK

iV - t ^ i

i

i

i

i

i

i

i

» '

i

i

i

r

'

i

i

'

'

i

I

I

I

I

I

110
100

FRENCH FRANC

90

80
70

60

ITALIAN LIRA
1

1

1990




» I

1

»

1

I

'

1

1992

•

I

'

1

•

I
1990

I

I

I

I

1992

'

» '

l

CHART 2

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

PERCENT PER ANNUM

2

2
U.K. POUND

GERMAN MARK

rV

1

1

1

1

1

1

1

1

1

i1

i

1

i

i

i

v; A
i

i

1

M

i

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i

1

i

i

i

1

i

M

i

i

l

i

i

1

1

1

1

I

i

i

i

JAPANESE YEN

CANADIAN DOLLAR

i

•

l

i

i

i

i

i1

i

1

i i

1

1

i

i

i

DUTCH GUILDER

SWISS FRANC

Ve

'

'

I

'

FRENCH FRANC




I

I

» I

I

» •

I

'

I

I

I

I

I

ITALIAN LIRA

I

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I

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I

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I

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I

CHART 3

PRICE OF GOLD IN LONDON
A V E R A G E S FOR W E E K ENDING W E D N E S D A Y
U.S. DOLLARS PER FINE OUNCE

U.S. DOLLARS PER FINE OUNCE

420

420

12.5 Kg BARS
AFTERNOON FIXING PRICE

400

400

380

380

360

360

340

340

320

J




I
1990

L

J

I
1991

I

1

J

L
1992

I

I

I
1993

L

320

CHART 4

CALL MONEY RATES
WEEKLY SERIES
ENT PER ANNUM

PERCENT PER ANI

10

16
14

8

FRANCE

U.S. FEDERAL FUNDS

12
10

6
8

4

6

JAPAN

4

2

i_!

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I

I

LJ^JL-LJ

L

I

I

I

I

I

I

I

I

I

I

I

I

I

I

2
10

10

9

9

8

8

NETHERLANDS
GERMANY

7

7

6
16

i

i

I

i

i

i

I

i

i

i

i

'

i

l

i

i

i

l

'

i

'

l

i

i

6
14

12

14

CANADA

UNITED KINGDOM

12

10

10

8

8

6

6

4

SWITZERLAND

i

4
1990




1992

i
1990

i

I

i

i

i

I

i

i
1992

i

I

i

i

i

2

CHART 5

3-MONTH INTEREST RATES
WEEKLY SERIES
PERCENT PER ANNUM
12

PERCENT PER ANNUM
WEIGHTED AVERAGE
FOREIGN RATE

10

CANADIAN FINANCE PAPER

8

6
U.S. CD'S

4
2

0

3

16

13

10
U.K. INTERBANK STERLING

NETHERLANDS INTERBANK RATE

7

4
9

5

7

5
JAPANESE CD RATE
FRENCH INTERBANK RATE

3

1

5

10

8

6
GERMAN INTERBANK RATE

SWISS INTERBANK

4

2

1990




1992

1990

1992

6

CHART 6

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

PERCENT PER ANI

10
3-MONTH

OVERNIGHT
8

6

4

2

I

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10

7-DAY

6-MONTH

8

6

4

2
10

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8

I

i

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I

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I

1-YEAR

1-MONTH

6

4

2




•

i
1990

•

I

i

i

i

1992

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
8

EURO-DOLLAR DEPOSITS

EURO-DOLLAR DEPOSITS

—

6 —

90-DAY CD'S

FEDERAL FUNDS

DASHED LINE

DASHED LINE

4 —

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DIFFERENTIAL

DIFFERENTIAL
—

I

I
1990




1

can

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WrVvAyfyr

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1992

i

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J

I
1990

I

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, i ,

am

I

L

I

_l
1992

CHARTS

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

PERCENT PER ANNUM

10

10

CANADIAN FINANCE
CO. PAPER, COVERED

INTERBANK STERLING

COVERED LONDON

EURO-DOLLAR DEPOSITS'

U.S. COMMERCIAL PAPER

DASHED LINE

I

I

I

I

I

DASHED LINE

I

I

I

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» I

I

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i

i

'

DIFFERENTIAL

2
10

I

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I

'

I

I

EURO-DOLLAR DEPOSITS

I

1

1

'

1

'

/

I

«

1

I

1990




v

1

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•

I

'

I

'

' I

I

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DASHED LINE

1

1

'

I

•

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'

'

1

DIFFERENTIAL

/A

» i

EURO-DOLLAR DEPOSITS

DASHED LINE

1

i

SWISS INTERBANK (SF) COVERED

COVERED FRANKFURT

1

I

DIFFERENTIAL

INTERBANK DM

1

» i

« I

1

>

1

1

1

I

1

1

1

I

»

1

I

I

1

» I

DIFFERENTIAL

,

A

'

i
1992

,

1

I

1

1

'

1

1990

1

I

'

1

1

1992

1 '

1

1

2
10

CHART 9

LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
PERCENT PER ANNUM

PERCENT PER ANNUM
10 e

14
UNITED KINGDOM

UNITED STATES

12

10

7
6

i i I i i i I i i i I i i i

5

i

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I

'

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6
11

12
FRANCE

CANADA
11

10

10

9

9

8

8

7

7

6

i

6

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5

I

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4

JAPAN

SWITZERLAND

•

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'

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10

10

GERMANY

NETHERLANDS

8

—

i

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1990




l

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•
1992

i

I

i

i

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1990

I

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1992

I

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CHART 10

STOCK INDICES
WEEKLY SERIES
RATIO SCALE
1986=100
200

RATIO SCALE
1986=100
200
UNITED STATES

UNITED KINGDOM

JAPAN

SWITZERLAND

FRANCE

ERMANY

i

•




i

l

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l

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l

i

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i

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l

i

i

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i

NETHERLANDS

CANADA

1990

i

1992

i
1990

i

I

i

1992

7-Jul-93
Chart 1.

14-Jul-93 21-Jul-93 28-Jul-93 4-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

2.8555
77.705
17.385
58.774
0.06466
0.92480
52.326
66.187
150.43

2.8221
78.155
17.074
58.198
0.06323
0.91932
51.743
65.748
148.90

2.8267
78.178
17.102
58.413
0.06275
0.92345
51.872
66.343
149.66

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

112.52
77.45
78.34
165.34
37.12
242.14
150.22
212.93
60.84

111.20
77.90
76.94
163.72
36.29
240.71
148.54
211.52
60.22

111.39
77.92
77.07
164.32
36.02
241.79
148.92
213.43
60.53

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

107.02
72.91
71.23
171.90
31.43
255.93
146.10
51.95
208.55
54.75
94.60

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

-1.19
-4.65
-4 .11
-6.10
0.03
-3.46
-1.51
-2.74

-1.11
-4.60
-3.98
-6.17
0.04
-3.42
-1.53
-2.81

-0 .95
-5 .83
-3 .74
-6 .42
0 .07
-3 .25
-1 .49
-2 .74

-0 .89
-5 .23
-3 .52
-5 .99
0 .06
-3 .08
-1 .48
-2 .64

395.80

394.40

392.40

393 .15

402 .65

3.10
3.00
4.19
7.35
7.49
3.18
6.79
4.88
6.20

3 .01
2.91
4.23
7.66
7.33
3.21
6.77
4.48
5.63

3.09
3.01
4 .10
7.41
7.09
3.21
6.75
4.68
5.85

3 .03
2 .95
3 .85
9 .68
6 .99
3 .21
6 .66
4 .60
5 .73

3 .11
3 .04
3 .98
14 .38
6 .71
3 .23
6 .55
4 .73
5 .65

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.

-1.31
-3.93
-4 .20
-6.24
0.05
-3.40
-1.70
-2.67

Gold Price in London, Afternoon Fixing

U.S. dollars per fine ounce
Chart 4.

107.01
73.01
71.23
171.47
31.74
255.09
145.95
52.27
206.96
54.54
94.78

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.

107.38
71.89
71.99
171.74
32.22
254.36
146.37
53.05
206.56
54.64
93.76

Call Money Rates

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




.-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 .15
4 .70
6.97
7.30
3 .24
6.46
4.78
5.81
6.03

3 .15
4 .61
7 .48
7 .26
3 .23
6 .51
4 .59
5 .88
6 .09

3 .14
4 .41
7 .43
7 .09
3 .23
6 .49
4 .56
5 .91
6 .03

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

3 .16
4.24
7.72
6.73
3.20
6.22
4.56
5.78
5.96

3 .00
3 .00
3 .05
3 .16
3 .35
3 .59

2 .91
3 .00
3 .06
3 .16
3 .38
3 . 61

3 .01
3 .00
3 .01
3 . 14
3 .33
3 .58

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 .95
3 .03
-0 .08

3 .04
3 .11
-0 . 07

Euro-Dollar Deposit Rates

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

14-Jul -93 21-Jul -93 28-Jul -93 4-Aug-93

Selected Euro-dollar & U.S. Mone] • Market Rates

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

3 .00
3 .10
-0 . 10

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

2 .91
3 .01
-0 .09

3 .01
3 .09
-0 .07

3 .16
3 .15
0 .01

3 .16
3 .15
0 . 01

3 . 14
3 .14
-0 .01

3 . 19
3 .18
0 .01

3 .19
3 .16
0 .03

3 .16
3 .10
0 .06

3 .16
3 .10
0 .07

3 . 14
3 .06
0 .08

3 . 19
3 . 14
0 .04

3 .19
3 .10
0 .09

3 .21
,
3 .38
,
-0..17

3 .19
.
3 .41
,
-0..22

, 17
3.
,
3 .29
-0 .
, 11

3 .22
3 .40
.
-0 .
, 18

3 .22
3 .34
-0 . 11

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

3,
.16
3.
.03
0..14

3.
.16
3.
.08
0..08

3 . 14
3.
.04
0..10

3.
.19
3.
.15
0..04

,
3 .19
3,
.15
0..03

Euro-dollar deposit
Swiss interbank, covered
Differential

3 .16
3 .06
0. 10

3.
,16
3.
.06
0.,10

, 14
3.
3 .01
0. 12

3.
,19
3.
,06
0. 13

3.
,19
3.
,06
0.
,12

7. 31
6. 74
6. 68
4 .47
4. 56
6. 52
7. 57
5. 79

7. 22
6. 77
6. 55
4 .43
4 .51
6. 46
7. 49
5. 76

7. 13
6. 72
6. 53
4 .38
4 .47
6. 39
7. 43
5. 74

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

132 .16
146 .81
99 .33
119 .80
124 .42
180 .51
173 .33
180 .61

131 .35
150 .14
104 .86
123,.37
125,.35
183 ,
.00
172 .
.31
183..31

128 .80
148 .76
105,.64
123 ,
.73
123 .
.83
176..10
172 .
.24
182 .
.02

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

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
10-year maturity, where available
Canada
France
Germany
Japan
Switzerland
Netherlands
United Kingdom
United States
Chart 10.

Stock Indices

Canada
France
Germany
Japan
Netherlands
Switzerland
United Kingdom
United States
Tokyo SE

nd Yields

(Wednesday figures)

1986=100) are Toronto Composite, CAC General, FAZ Aktien,
(Topix), CBS All-General, Swiss Bank Index, Financial Times Ordinary, NYSE Composite#




FEDERAL RESERVE statistical release
August 9, 1993

H.10(512)

FOREIGN EXCHANGE RATES
FOR THE WEEK ENDING

AUGUST 6, 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:
^UNITED STATES

DOLLAR

Aug. 2

(CURRENCY UNITS PER DOLLAR)
Aug. 5
Aug. 4
Aug. 3

Aug. 6

0.6895
12.080
37.180
1.2873
5.7756
6.8330
1.1005
5.8710
6.0225
1.7160
240.75
7.7555
31.600
1.4030
1605.50
104.35
2.5610
1.9305
0.5521
7.4290
179.00
1.6165
3.3575
809.80
142.05
N.A.
8.0980
1.5025
26.940
25.265
1.4897

0.6900
11.997
36.320
1.2910
5.7756
6.7725
1.1195
5.8100
5.9410
1.7040
238.25
7.7545
31.600
1.4098
1597.00
104.43
2.5610
1.9193
0.5521
7.3875
173.40
1.6150
3.3525
809.90
138.70
48.780
8.0250
1.5013
26.939
25.200
1.5045

0.6880
12.032
35.870
1.2879
5.7756
6.7400
1.1200
5.7860
5.9340
1.7105
238.00
7.7558
31.600
1.4060
1600.75
104.80
2.5510
1.9243
0.5515
7.3800
173.20
1.6137
3.3615
809.50
138.83
48.780
7.9990
1.5065
26.949
25.210
1.5005

0.6866
12.075
36.250
1.2895
5.7756
6.7875
1.1175
5.7925
5.9550
1.7160
239.75
7.7538
31.600
- 1.4007
1608.50
104.25
2.5512
1.9297
0.5535
7.4150
174.00
1.6153
3.3700
809.20
139.20
48.780
8.0400
1.5111
26.948
25.230
1.4910

0.6795
11.945
36.320
1.2908
5.7756
6.8250
1.1260
5.7450
5.9370
1.6975
238.40
7.7540
31.600
1.3950
1604.25
104.45
2.5500
1.9098
0.5500
7.3675
173.05
1.6128
3.3650
809.70
139.35
48.780
7.9575
1.5010
26.939
25.210
1.4985

95.06

94.40

94.48

94.76

94.33

KVALUE IS U.S. DOLLARS
**INDEX OF WEIGHTED AVERAGE EXCHANGE VALUE OF U.S. DOLLAR AGAINST CURRENCIES OF OTHER G-10
COUNTRIES. MARCH 1973 = 100. W I G H T S 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.