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(516/517) Selected Interest & Exchange Rates W eekly Series o f Charts August 9,1999 DIVISION OF INTERNATIONAL FINANCE Prepared by the BOARD OF GOVERNORS FINANCIAL MARKETS FEDERAL RESERVE SYSTEM SECTION Washington, D.C. 20551 Table of 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 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 Nominal Currency Exchange Values Dollar prices of foreign currencies ana weighted average values of U.S. dollar (Averages for week ending Wednesday, ratio scale, March 1973 = 100) 220 200 180 160 140 290 260 H 230 200 170 300 - 260 220 180 90 - 70 - 50 30 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 8 Canada Japanese yen 6 4 2 2 Swiss franc Australian dollar 1 0 -1 -2 Chart 3 Price of Gold in London (Averages for week ending Wednesday) u.s U.S. dollars per fine dollars per fine ounce 420 420 12.5 Kg Bars Afternoon fixing price 400 400 380 380 360 360 340 340 320 320 300 300 280 280 260 260 240 ________ i____________ i____________ i____________ i_____________i________ 1994 1995 1996 1997 1998 1999 240 Chart 4 Overnight Funding Rates and Official Interest Rates (Averages for week ending Wednesday, percent per annum) United States Germany/Euro Area Canada Japan United Kingdom Switzerland Chart 5 3-Month Interest Rates (Averages for week ending Wednesday, percent per annum) 7 5 3 1 6 4 2 0 6 4 2 0 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) 300 — 100 I I n it o H .Q tn to c - 1996 1997 1998 1999 1996 1997 1998 1999 300 260 220 180 140 100 60 7-Jul-99 Chart 1. 14-Jul-99 21-Jul-99 28-Jul-99 4-Aug-99 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 66.6625 68.117 0.82264 102.38 11.7518 63.788 157.12 66.2100 67.674 0.82089 101.83 11.6500 63.430 155.70 65.4020 67.125 0.83640 103.14 11.7993 64.224 156.77 64.6080 66.271 0.85788 105.86 12.0374 66.025 158.70 65.2740 66.597 0.87154 107.04 12.2063 66.974 161.73 47.18 67.89 215.39 147.26 52.04 205.21 63.55 46.86 67.45 214.94 146.46 51.59 204.06 62.98 46.29 66.90 219.00 148.35 52.25 206.62 63.41 45.73 66.05 224.62 152.25 53.31 212.41 64.19 46.20 66.38 228.20 153.96 54.05 215.46 65.42 0.37 0.54 2.67 5.37 4.20 0.28 0.40 0.54 2.61 5.35 4.22 0.24 0.41 0.43 2.65 5.36 4.29 0.19 0.52 0.48 2.71 5.47 4.39 0.15 256.08 254.04 254.29 255.34 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 Exchangei 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. 0.39 0.54 2.68 5.38 4.18 0.26 260.44 Overnight Funding Rates and Official Interest Rates United States 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 Lombard rate Call money Discount rate United Kingdom Call money Repo rate 5.00 4.50 4.97 4.50 4.96 4.50 5.01 4.50 5.06 4.50 4.75 4.65 4.25 4.75 4.55 4.25 4.75 4.60 4.25 4.75 4.61 4.25 4.75 4.66 4.25 3.50 2.58 2.50 1.50 3.50 2.55 2.50 1.50 3.50 2.61 2.50 1.50 3.50 2.33 2.50 1.50 3.50 2.57 2.50 1.50 0.03 0.50 0.03 0.50 0.03 0.50 0.03 0.50 0.03 0.50 3.13 0.58 0.50 2.88 0.51 0.50 2.88 0.53 0.50 2.88 0.39 0.50 3.00 0.76 0.50 4.78 5.00 4.66 5.00 5.08 5.00 4.90 5.00 5.15 5.00 7-Jul-99 Chart 5. 14-Jul-99 21-Jul-99 28-Jul-99 4-Aug-99 3-Month Interest Rates U .S . 90 -day CD's, secondary market 5.23 5.23 5.22 5.24 Australian bank bill 4.87 4.90 4.85 4.95 Canadian finance paper 4.85 4.81 4.83 4.96 Euro-area interbank 2.66 2.66 2.69 2.68 Japanese CD 0.04 0.04 0.04 0.04 Swedish treasury bill 3.18 3.25 3.22 3.21 Swiss interbank 1.14 1.09 1.10 1.05 U.K. interbank sterling 5.00 4.96 4.95 5.02 Weighted average foreign interest rate 2.78 2.79 2.79 2.83 (Canada, euro area, Japan, United Kingdom, Switzerland, Australia, and Sweden) Chart 6. Long Term Government Bellwether Bond Yields 10-year maturity, where available Canada 5.52 5.45 5.36 5.60 France 4.84 4.83 4.79 4.79 Germany 4.71 4.64 4.73 4.66 Italy 4.97 4.96 4.93 4.92 Japan 1.64 1.68 1.74 1.70 Switzerland 3.09 3.08 3.13 3.02 United Kingdom 5.20 5.23 5.16 5.20 United States 5.67 5.87 5.78 5.82 Weighted average foreign interest rate 4.60 4.59 4.61 4.63 (Canada, euro area, Japan, United Kingdom, Switzerland, Australia, and Sweden) Chart 7. 5.33 4.88 4.98 2.70 0.05 3.25 1.04 5.12 2.85 Stock Indexes Canada France Germany Euro area* Italy Japan Switzerland** United Kingdom United States 5.73 5.01 4.86 5.13 1.83 3.09 5.33 5.93 4.80 (Wednesday figures) 170.21 238.08 225.53 333.92 248.00 94.74 271.33 175.71 261.60 172.13 235.21 227.34 335.34 246.25 96.02 269.70 173.78 260.98 169.36 231.29 220.79 332.88 236.86 96.22 266.86 171.45 258.02 168.77 227.76 213.38 317.33 228.69 93.02 260.89 170.74 255.20 165.26 223.93 208.13 310.36 227.57 93.62 262.88 170.64 244.86 Indices (in order, rebased to December 30, 1994, **December 29, 1994) are Toronto Composite, SBF250, FAZ Aktien, *Dow Jones EURO stock index, Banca Italiana General, Tokyo SE (Topix), Swiss Performance Index, Financial Times Ordinary, NYSE Composite
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