The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
(516/517) Selected Interest & Exchange Rates Weekly Series of Charts December 10,1990 DIVISION OF INTERNATIONAL FINANCE Prepared by the FINANCIAL MARKETS SECTION BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington, DC. 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 INDIES SUBSCRIPTION RATES: Weekly $24.00 per year or $.60 each in the United States, its possessions. Canada, and Mexico: 10 or more of the same issue to one address. $22.50 per year or $.55 each. Elsewhere. $30.00 per year or $.70 each. Address requests to Publications Services Division of Administrative 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 RATIO SCALE MARCH 1973=100 RATIO SCALE MARCH 1973=100 140 130 FOREIGN CURRENCY PRICE OF U.S. DOLLAR 120 140 130 BELGIAN FRANC 120 110 110 100 100 90 90 80 80 70 280 260 240 220 i i i I i i i i i i i I i i ' i ' ' — SWISS FRANC 1 « I I I I I I I I 1 I 70 280 260 240 220 JAPANESE YEN 200 200 180 180 160 160 140 140 120 100 • i i 90 i ' • • I • • • l i ' i I • ' I » I I I I I I I I I I CANADIAN DOLLAR U.K. POUND 120 100 90 80 80 70 70 60 60 • 50 200 ' I ' i i I i i i _L_L I I I ' 1 ' I I I \ I I I I I I GERMAN MARK 180 — 160 50 200 180 DUTCH GUILDER 160 140 140 120 120 100 120 • i i I i 1 1 > 1 1 1 1 1 • ' I I 110 I I I I I I I I I I I I I ITALIAN LIRA 100 90 L_ 100 60 55 50 FRENCH FRANC 45 80 40 70 35 60 30 1 50 1 I 1 ' 1988 I 1 I l l I ' 1 I 1990 I I « I « 1 1988 I I 1 ' ' I 1 I 1990 I 25 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR (-) AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM 4 PERCENT PER ANNUM 4 e CANADIAN DOLLAR U.K. POUND 1 GERMAN MARK 1 1 1 I 1 1 1 1 1 1 1 1 1 1 1 1 1 I 1 1 1 1 1 1 1 1 1 DUTCH GUILDER 1 1 1 1 1 1 1 1 1 1 FRENCH FRANC 12 1 1 1 1 1 1 1 1 \ 1 1 JAPANESE YEN SWISS FRANC 1 1 1 1 1988 1 1 1 1 1 1 1 1 1 1 i 1 i l "Vx/ 1 1 1 I I 1 ITALIAN LIRA i 1 1990 i i I 1988 i 1 1 l ' » « 1990 12 CHARTS PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. DOLLARS PER FINE OUINCE U.S. D LLARS PER FINE OUNCE 520 520 500 500 12.5 Kg BARS AFTERNOON FIXING PRICE 480 480 460 460 440 440 420 420 400 400 380 380 360 360 340 340 320 1987 1988 1989 1990 320 CHART 4 CALL MONEY RATES WEEKLY SERIES CENT PER ANNUM PERCENT PER AN 16 16 12 12 FRANCE — U.S. FEDERAL FUNDS 8 8 JAPAN 4 0 4 ' ' i I i ' • l • i i l i i » 1 1 1 I 1 ' 1 I » • • l i • ' 16 0 16 12 12 CANADA GERMANY 8 8 4 0 4 i i I i ' i I ' ' ' I ' ' ' i i i I ' i i I i ' » l ' » » 16 0 20 UNITED KINGDOM SWITZERLAND 16 12 12 8 8 4 4 NETHERLANDS 0 1988 1990 1988 1990 0 CHARTS 3-MONTH INTEREST RATES WEEKLY SERIES PERCENT PER ANNUM PERCENT PER ANNUM 10 12 — SWISS INTERBANK RATE U.S. CD'S WEIGHTED AVERAGE FOREIGN RATE — U.K. INTERBANK STERLING CANADIAN FINANCE CO PAPER FRENCH INTERBANK RATE GERMAN INTERBANK RATE NETHERLANDS INTERBANK RATE JAPANESE CD RATE 1988 1990 1988 1990 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY CENT PER ANNUM 14 OVERNIGHT 12 3-MONTH 10 8 6 4 14 « 1 1 I » 1 1 1 I • i I • i i ' i l 7-DAY 12 1 1 1 1 i 1 1 » 1 1 6-MONTH 10 8 6 4 14 i • ' l ' ' ' I ' ' i I ' i i • • i I 1-MONTH 12 l • • I I i l i ' I • 1-YEAR 10 8 6 4 i ' l i i 1988 i I i • • I i i 1990 i I • • I • ' 1988 • ' i i 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 14 14 12 12 10 OVERNIGHT 10 3-MONTH EURO-DOLLAR DEPOSITS EURO-DOLLAR DEPOSITS FEDERAL FUNDS 90-DAY CD'S DASHED LINE J—I I I DASHED LINE I I I i i i I J—I—I—I DIFFERENTIAL J 1988 I I I I I I I I i I I i i I i i i DIFFERENTIAL I I I I I I 1990 I J—I—I—I—I—L—I 1988 i i 1990 CHARTS INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUI ;ENT PER ANNUM 16 16 12 12 CANADIAN FINANCE CO. PAPER, COVERED INTERBANK STERLING COVERED LONDON /a; 8 8 0 U.S. COMMERCIAL PAPER EURO-DOLLAR DEPOSITS 4 • ' ' I 1 i 1 I 1 « » I ' • I i 2 I I I I I ' I ' ' ' I I I I DIFFERENTIAL i + 0 I + 1 r-vvW"1 I 12 » I I I 1 I I I I I I I I 1 0 1 1 INTERBANK DM 1 1 1 1 1 1 1 1 1 1 1 1 2 16 12 SWISS INTERBANK (SF) COVERED COVERED FRANKFURT 8 8 EURO-DOLLAR DEPOSITS EURO-DOLLAR DEPOSITS 4 0 0 2 — DIFFERENTIAL 2 16 4 DASHED LINE DASHED LINE » • « l ' ' ' I i i 4 DASHED LINE DASHED LINE i I i ' ' i 1 I I ' I I I I I I I 0 2 2 DIFFERENTIAL DIFFERENTIAL + + 0 0 I I I I I I 1988 I I I I I I I I 1990 I I I I I I I 1988 I I I I I I I I 1990 2 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES 14 RCENT PER ANNUM PERCENT PER ANN! UNITED STATES CANADA 12 10 8 • 6 i i I 1 « ' 1 1 1 i 1 ' i i i • 1 ' ' « • i l i ' ' » ' ' I • i I i i i I i i 1 1 • I 1 14 UNITED KINGDOM FRANCE 12 10 8 i 6 10 i i I » i i I i ' i l i i SWITZERLAND i JAPAN 8 6 4 i 2 10 NETHERLANDS ' ' I • GERMANY MONTHLY 8 6 4 2 ' 1 ' 1 1 1 1 1988 t 1 ' • I • • • 1990 • ' 1 1988 1 1 i l i i i 1990 CHART 10 STOCK INDICES WEEKLY SERIES RATIO SCALE 1986=100 RATIO SCALE 1986=100 200 200 NETHERLANDS 175 — UNITED STATES 150 I— JAPAN GERMANY SWITZERLAND FRANCE • » i i i i i I i i i l i » UNITED KINGDOM CANADA 1988 1990 1988 1990 SERIES 7-Nov-90 C h a r t 1. S p o t Exchange R a t e s a n d I n d i c e s Noon b u y i n g r a t e s (U.S. cents, weekly averages) Belgian franc Canadian d o l l a r French f r a n c German mark Italian lira Japanese yen Netherlands g u i l d e r Swiss f r a n c U . K . pound Indices, 3.2531 86.010 19.963 66.975 0.08916 0.77971 59.375 79.482 196.40 3.2731 85.666 20.067 67.481 0.08965 0.77094 59.824 80.029 196.47 3.2796 86.082 20.074 67.734 0.08993 0.77605 60.034 80.122 196.69 3.2603 86.059 19.959 67.310 0.08968 0.77782 59.663 79.141 197.02 3.2180 85.868 19.690 66.527 0.08853 0.74794 58.969 77.966 193.16 128 .19 85 . 7 2 89 .96 188 . 4 1 51 .18 204 .15 170 .45 255 .70 79 .44 128 .98 85 .38 90 . 4 3 189 . 8 3 51 .46 201 .86 171 . 7 4 257 .46 79 .46 1 2 9 . 23 8 5 . 80 9 0 . 46 1 9 0 . 54 5 1 . 62 2 0 3 . 20 1 7 2 . 35 2 5 7 . 76 7 9 . 55 128 .47 85 .77 89 . 9 4 189 . 3 5 51 .48 203 .66 171 .28 254 . 6 1 79 .69 126 .80 85 .58 88 .73 187 .15 50 .82 195 .83 169 .29 250. 83 78.,13 110 . 9 2 71 .48 74 . 9 5 178 . 9 2 40 . 9 2 185 . 2 7 151 . 1 1 67 . 2 8 225 .07 65 . 2 3 81 .78 110 . 5 4 7 1 .66 74 .69 178 . 1 3 40 . 9 2 186 .28 150 . 5 2 67 .24 222 .83 65 .54 82 .04 110 72 74 178 40 180 150 67 222 65 83 M a r c h 1973 b a s e r a t e s = 100 Belgian franc Canadian d o l l a r French f r a n c German mark Italian lira Japanese yen Netherlands g u i l d e r Swiss f r a n c U . K . pound Weighted average exchange v a l u e i n d i c e s , Belgian franc Canadian d o l l a r French f r a n c German mark Italian lira Japanese yen Netherlands g u i l d e r Swedish krona Swiss f r a n c U . K . pound U.S. d o l l a r Chart 2. 3 - M o n t h F o r w a r d Exchange R a t e s , .49 .48 .62 .34 .90 .84 .68 .25 .31 .03 .38 - 4 . 06 - 2 . 02 - 0 . 90 - 3 . 24 - 0 . 28 - 0 . 77 - 0 . 52 - 5 . 53 -4 -1 -0 -4 -0 -0 -0 -5 383. 71 377 .03 .98 .96 .21 .29 .84 .68 .41 - 3 .84 - 1 .70 - 0 .78 - 4 .32 - 0 .06 - 0 . .76 - 0 . .61 - 4 . .99 - 3 .64 - 1 , .84 - 1 . .04 - 4 . .14 - 0 . . 04 - 0 . 94 - 0 . 63 - 5 . 03 London, A f t e r n o o n F i x i n g 383. 7 .80 7 .83 12 . 4 3 9 .31 8 .05 7 .93 8 .26 7 .38 14 . 1 4 7. 7. 12. 9. 7. 8. 8. 7. 14. so 379.81 00 d o l l a r s per f i n e ounce Chart 4. 110,.98 7 1 , ,30 7 5 . 13 178. 64 40. 89 184. 41 150. 94 6 7 . 32 2 2 5 . 37 6 5 . 33 8 2 . 03 Premium o r D i s c o u n t -4.26 -1.95 -0.80 -2.83 -0.15 -0.65 -0.55 -5.36 Gold P r i c e i n 1973=100 00 00 U.S. Mar. 110.47 71.75 74.84 177.42 40.73 187.13 150.01 67.26 224.19 65.43 82.22 Canadian d o l l a r French f r a n c German mark Italian lira Japanese yen Netherlands g u i l d e r Swiss f r a n c U . K . pound Chart 3. 1 4 - N o v - 9 0 2 1 - N o v - 9 0 2 8 - N o v - 9 0 5~Dec-90 381. 18 C a l l Money R a t e s U.S. f e d e r a l f u n d s Overnight E u r o - d o l l a r Canada France Germany Japan Netherlands Switzerland U n i t e d Kingdom deposits 7.97 7.93 12.28 9.77 8.19 7.84 8.44 7.28 14.50 7. 7. 12. 9. 8. 7. 8. 7. 14. 94 80 45 75 09 93 26 38 33 56 64 53 50 85 00 37 38 23 7. 7. 12. 9. 8. 8. 8. 7. 14. 60 55 23 94 61 01 71 38 14 SERIES tv-90 Chart 5. 3-Month I n t e r e s t Rates U.S. 90-day CD's, s e c o n d a r y market Canadian f i n a n c e paper French i n t e r b a n k r a t e German i n t e r b a n k r a t e J a p a n e s e CD r a t e Netherlands interbank rate Swiss i n t e r b a n k r a t e U.K. i n t e r b a n k s t e r l i n g Weighted average f o r e i g n i n t e r e s t r a t e CG-10 C o u n t r i e s ) Chart 6. Euro-Dollar 7.95 12.53 9.88 8.68 8.26 8.58 8.25 13.58 10.03 7.98 12.40 9.93 8.72 3 . 36 8.69 8.25 13.71 10.10 7.93 7.90 7.91 7.95 7.94 7.95 7.80 7.83 7.85 7.98 7.90 7.93 96 30 86 81 39 79 45 63 20 8 . 11 1 2 . 21 9 . 80 8 . 84 8 . 39 8 . 80 8 . 50 1 3 . 38 1 0 . 19 8.18 12.25 9.96 9.13 8.39 9.01 8.63 13.71 10.36 7 . 83 7 . 76 7 . 83 7 . 99 7 . 86 7 . 86 7 . 64 7 . 70 7 . 80 8 . 14 7 . 95 7 . 86 7.55 7.69 8.63 8.19 8.04 7.90 7. 12. 9. 8. 8. 8. 8. 13. 10. D e p o s i t Rates Overnight 7-day 1-month 3-month 6-month 1-year Chart 7. 14 - N o v - 9 0 21 - N o v - 90 28 - N o v - 90 5 - D e c - 9 0 S e l e c t e d E u r o - d o l l a r & U . S . Mone>/ M a r k e t R a t e s 7.93 7.97 -0.04 7.80 7.94 -0.14 7 . 83 7 . 80 0. 02 7 . 64 7 . 56 0. 08 7.55 7.60 -0.05 7.95 7.95 -0.00 7.98 7.98 0.00 7 . 99 7 . 96 0. 03 8 . 14 8 . 11 0..03 8.19 8.18 0.01 7.95 8.03 -0.08 7.98 7.99 -0.02 7 ..99 8 .03 - 0 .04 8 .14 8 .22 - 0 .09 8.19 8.51 -0.32 7.85 8.13 -0.28 7.89 8.22 -0.33 7 .86 8 .15 - 0 .28 7 .97 8 .25 - 0 .29 8.07 8.50 -0.42 Differential 7.95 7.86 0.09 7.98 7.81 0.17 7 .99 7 .84 0 .15 8 .14 8 .04 0 .10 8.19 8.07 0.12 Euro-dollar deposit Swiss i n t e r b a n k , covered Differential 7.95 7.69 0.26 7.98 7.72 0.25 7 .99 7 .75 0 .24 8 .14 7 .87 0 .26 8.19 7.98 0.21 10.93 10.81 9.06 7.66 6.52 10.89 8.55 10.70 10.78 9.09 7.69 6.60 10.93 8.45 ND 10 . 8 0 9 .05 7 .55 6 .55 10 .89 8 .32 ND 10 . 6 1 8 .97 7 .43 6 .58 10 .58 8 .28 ND ND 8.99 ND 6.61 10.44 8.25 102.35 117.55 89.58 132.50 90.65 112.47 123.42 123.11 104.23 116.79 91.21 133.86 90.11 113.37 122.83 128.41 103.41 117.06 94.75 127.68 91.03 111.10 130.03 126.98 104.80 113.00 92.65 128.35 90.65 108.43 130.82 127.85 107.52 120.66 94.50 123.94 91.57 111.96 131.09 132.40 Overnight Euro-dollar U.S. f e d e r a l f u n d s Differential deposits 3-month E u r o - d o l l a r d e p o s i t U.S. 90-day CD's, s e c o n d a r y market Differential Chart 8. Interest Arbitrage, Euro-dollar deposit Interbank s t e r l i n g (London), Differential U.S. commercial paper Canadian f i n a n c e paper, Differential covered covered Euro-dollar deposit I n t e r b a n k DM ( F r a n k f u r t ) , Chart 9. 3 - M o n t h Funds covered Long Term G o v e r n m e n t Bond Y i e l d s Canada France Germany Japan Switzerland U n i t e d Kingdom United States C h a r t 10. Stock I n d i c e s Canada France Germany Japan Netherlands Switzerland U n i t e d Kingdom United States (Wednesday f i g u r e s ) I n d i c e s ( i n o r d e r , r e b a s e d t o 1986=100) a r e T o r o n t o C o m p o s i t e , CAC G e n e r a l , FAZ A k t i e n , T o k y o SE C T o p i x ) , CBS A l l - G e n e r a l , S w i s s Bank I n d e x , F i n a n c i a l T i m e s O r d i n a r y , NYSE C o m p o s i t e V* Ot CO\r FEDERAL RESERVE statistical release H.10(512) December 10, 1990 FOREIGN EXCHANGE RATES FOR THE WEEK ENDING DECEMBER 7, 1990 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: MONETARY UNIT Dec. 3 •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 HON PESETA RUPEE KRONA FRANC DOLLAR BAHT POUND 0.7768 10.620 31.270 1.1655 5.2352 5.8065 1.3604 3.6325 5.1130 1.5135 155.60 7.8055 18.160 1.7675 1137.50 134.40 2.7005 1.7076 0.6100 5.9080 133.13 1.7220 2.5330 715.80 96.10 40.298 5.6620 1.2920 27.250 25.170 1.9195 0.7773 10.580 31.100 1.1638 5.2352 5.7765 1.3688 3.6190 5.0820 1.5031 155.60 7.8030 18.110 1.7745 1129.75 134.05 2.7005 1.6958 0.6093 5.8795 132.55 1.7230 2.5340 715.20 95.75 40.288 5.6385 1.2842 27.275 25.220 1.9260 MEMO: ^•UNITED STATES DOLLAR 83.87 83.45 COUNTRY (CURRENCY UNITS PER DOLLAR) Dec. 4 Dec. 5 Dec. 6 0.7692 10.580 31.140 1.1630 5.2352 5.7825 1.3675 3.6210 5.0875 1.5025 154.80 7.8040 18.090 1.7752 1130.50 134.53 2.6990 1.6951 0.6090 5.8915 132.65 1.7195 2.5400 716.00 96.05 40.278 5.6475 1.2835 27.258 25.190 1.9220 83.52 0.7700 10.490 30.900 1.1623 5.2352 5.7330 1.3788 3.8910 5.0560 1.4897 154.30 7.8055 18.120 1.7882 1122.50 132.35 2.7015 1.6809 0.6008 5.8350 131.53 1.7185 2.5165 716.80 95.20 40.258 5.6035 1.2725 27.223 25.210 1.9380 82.83 Dec. 7 0.7735 10.395 30.680 1.1590 5.2352 5.6870 1.3892 3.5700 5.0175 1.4785 153.60 7.8040 18.100 1.8004 1114.50 131.05 2.6970 1.6675 0.6025 5.7945 130.68 1.7180 2.5050 717.10 94.43 40.258 5.5675 1.2630 27.190 25.210 1.9500 82.24 •VALUE IS U.S. DOLLARS **INDEX OF WEIGHTED AVERAGE EXCHANGE VALUE OF U.S. DOLLAR AGAINST CURRENCIES OF OTHER G-10 COUNTRIES. MARCH 1973 = 100. 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 NOW AVAILABLE THROUGH THE FACILITIES OF THE DEPARTMENT OF COMMERCE'S ECONOMIC BULLETIN BOARD. FOR INFORMATION, CALL (202) 377-1986.
@FedFRASER